REG - Vietnam Enterprise - Statement re change in Portfolio Management Team

Vietnam Enterprise InvestmentsAnnouncement

01/02/2024 12:45

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RNS Number : 7425B  Vietnam Enterprise Investments Ltd  01 February 2024

COMPANY ANNOUNCEMENT

 

For Immediate Release
 
 

01 February 2024

 

Vietnam Enterprise Investments Limited
(the "Company" or "VEIL")

 

Changes to Portfolio Management Team

 

The Board of VEIL, a London listed investment company investing primarily in
listed equities in Vietnam and a FTSE 250 constituent, announces that Mr. Tuan
Anh Le (Tuan) has been appointed as the Lead Portfolio Manager with effect
from 01 February 2024 succeeding Mr. Dien Vu Huu (Dien) who is moving to a new
role at Dragon Capital (the "Manager"). The Company's investment policy and
objective will remain unchanged.

 

Tuan, with a Masters of Corporate Finance from the University of Economics in
Ho Chi Minh City, joined Dragon Capital as a Senior Analyst in 2006 and was
promoted to Deputy Portfolio Manager of VEIL in 2010. In 2013, Tuan was
appointed as Deputy Portfolio Manager of a mandate for a large sovereign
wealth fund investing in listed Vietnamese stocks. In 2016, he took over as
Portfolio Manager of that mandate. Under his management, the US$600m+
portfolio outperformed the VNI six years out of seven and had an annualised
total gross return (in US$) of 12.77% during his tenure, exceeding the VNI's
8.90%.

 

Dien has spent 24 years with Dragon Capital and the last 12 years as VEIL's
Portfolio Manager. Under his stewardship and tenure, VEIL achieved an
annualised total net return (in US$) of 13.19%, surpassing the VNI's 11.89%.
Dien has asked to enter the next phase of his career at Dragon Capital while
remaining connected to VEIL and felt now was the right time to trigger his
succession plan. In his new role, he will focus initially on supporting the
transition of Tuan to the new Lead Portfolio Manager role of VEIL. Then he
will take up two responsibilities: the origination of IPOs, Pre-IPOs, and
Private Placements across Dragon Capital's funds, and the related development
of the Manager's domestic High Net Worth business.

 

In his role as Lead PM of VEIL, Tuan will continue to benefit from the
expertise and experience of the current Deputy Portfolio Managers Tuan Bui
Minh and Thao Ngo Thanh, both of whom will take on expanded responsibilities
within the team. They have been with VEIL since 2017 and 2014 respectively,
and have worked closely with Tuan in the past.

 

Gordon Lawson, Chairman of VEIL, commented;

"The Board of VEIL is delighted to welcome Tuan as Lead Portfolio Manager to
VEIL. The Board  is confident that, with his knowledge of VEIL as former
Deputy PM of VEIL, and his strong long term outperformance generated through
Dragon Capital's investment process and platform, he and his team will
continue to manage VEIL's portfolio for the benefit of shareholders.

 

We wish to place on record our thanks to Dien for his commitment and
stewardship of the portfolio over the last12 years, and look forward to
further valuable contributions from him in his new role."

 

For further information, please contact:

 

Vietnam Enterprise Investments Limited

Rachel Hill

+44 (0) 797 121 4852

+44 (0) 1225 618 150

rachelhill@dragoncapital.com (mailto:rachelhill@dragoncapital.com)
 

 

Jefferies International Limited

Stuart
Klein

+44 (0) 20 7029 8703

stuart.klein@jefferies.com (mailto:stuart.klein@jefferies.com)
 

 

Buchanan

Charles Ryland / Henry Wilson / George Beale

+44 (0) 20 7466 5111

veil@buchanan.uk.com (mailto:veil@buchanan.uk.com)

 

h2Radnor

Iain Daly

+44 (0) 20 3897 1830

idaly@h2radnor.com (mailto:idaly@h2radnor.com)

 

LEI: 213800SYT3T4AGEVW864

 

 

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