REG - VietNam Holding Ltd - Estimated Daily Net Asset Value

VietNam HoldingAnnouncement

03/04/2025 11:00

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RNS Number : 5491D  VietNam Holding Limited  03 April 2025

 

For immediate release

VietNam Holding Limited ("VNH" or the "Company")

Estimated Daily Net Asset Value (NAV)

Global and regional equity markets sold-off in early trading on 03 Apr 2025,
after the U.S government announced its new tariff policy, including a
universal baseline tariff of 10% effective 05 Apr 2025 and a discounted
reciprocal tariff for specific trading partners effective 09 Apr 2025.

In announcing details of his reciprocal tariff policy in a much-anticipated
'Liberation Day' address, US President Trump spoke favourably of Vietnam:
"Then we have Vietnam - great negotiators, great people. They like me, I like
them." However, he then added "the problem is they charge us 90%. We're going
to charge them 46%".

Vietnam's reciprocal tariff rate, at 46%, is second only to China (54%), and
significantly above peers like Thailand (36%) and Malaysia (24%). The
executive order issued by President Trump does allow for a modification of
tariffs - they may increase if there's retaliation or decrease if partners
align with U.S. economic/security goals. The Vietnamese government recently
passed a Decree to reduce the import tax on a number of goods originating from
the US and is sending a delegation to the US this weekend, including a deputy
Prime Minister.

The news on the tariffs hit the domestic equity market in Vietnam and the
Vietnam All Share index fell by 7.3%. The estimated net asset value (NAV) per
share of the Fund also decreased by 7.4%.

The Company announces that, at its close of business on 03 Apr 2025, its
Estimated NAV was USD 108.9 million or USD 4.624 per share and GBP 82.7
million or GBP 3.510 per share (GBP/USD = 1.3172).

Change in position as of 03 Apr 2025:

 

                         NAV per share (USD)  Vietnam All Share Index (USD)
 Daily                   -7.4%                -7.3%
 Calendar month-to-date  -8.4%                -7.5%
 Calendar year-to-date   -11.7%               -6.2%
 1-year                  -8.6%                -5.2%
 3-year CAGR             -5.6%                -10.6%
 5-year CAGR             19.3%                13.1%
 10-year CAGR            8.7%                 6.9%
 15-year CAGR            8.0%                 4.0%
 Since inception CAGR    4.8%                 N/A

 

 

Daily performance is calculated by reference to the previous day NAV/share and
VNAS (Vietnam All Share Index). Calendar month-to-date performance is
calculated by reference to NAV/share and VNAS as of 28 Mar 2025. Calendar
year-to-date performance is calculated by reference to NAV/share and VNAS at
the previous calendar year end (31 Dec 2024). 1-year performance is calculated
by reference to NAV/share and VNAS as of 03 Apr 2024. 3-year CAGR (compound
annual growth rate) is calculated by reference to NAV/share and VNAS as of 03
Apr 2022. 5-year CAGR is calculated by reference to NAV/share and VNAS as of
03 Apr 2020. 10-year CAGR is calculated by reference to NAV/share and VNAS as
of 03 Apr 2015. 15-year CAGR is calculated by reference to NAV/share and VNAS
as of 03 Apr 2010. Since inception CAGR is calculated by reference to
NAV/share as of 30 Jun 2006. VNAS is sourced from Bloomberg, which uses
back-tested positions for VNAS for before 27 Jan 2014 as released by HoSE (Ho
Chi Minh City Stock Exchange).

The Estimated Daily NAV stated in this announcement is based on estimated
valuations and accordingly the Company accepts no responsibility for the
accuracy of the Estimated Daily NAV figure given, and neither is any
responsibility implied. The actual month end NAV in any month may vary from
the Estimated Daily NAV provided in the relevant month. Accordingly, no
reliance should be placed on the Estimated Daily NAV, and it has been provided
for indicative purposes only.

 

More information on the Company is available at www.vietnamholding.com
(http://www.vietnamholding.com)

Craig Martin

craig@dynamcapital.com

Tel.: +84 28 38277 590

Dynam Capital Limited

https://www.dynamcapital.com (https://www.dynamcapital.com)

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