Vietnam trust struggles as country enters economic slowdown

Vietnam Enterprise Investments Limited

Vietnam Enterprise Investments Limited’s (VEIL) discount to net asset value has continued to widen over the last quarter, as the trust struggled with a slowdown in consumer demand in the country.

In the trust's Q1 results, released today (10 May), it revealed that its NAV had increased 5.5% compared to the Vietnam index's 6.7%. Stock Spotlight: HSBC remains on track for continued growth This has left the trust's discount to NAV now sitting at 14.2%, compared to 10.7% at the start of the year. Meanwhile, the trust's GBP share price fell 1.4% over the quarter, having declined 23.7% over the last year. Dien Vu, portfolio manager of VEIL, credited the drop to a slowdown in consumer demand in Vietnam, which saw retailers Mobile World Group and Phu Nhuan Jewelry decline. V...