Picture of Wam Capital logo

WAM Wam Capital News Story

0.000.00%
au flag iconLast trade - 00:00
FinancialsConservativeMid CapSuper Stock

REG - VietNam Holding Ltd - Monthly Investor Report

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211115:nRSO3574Sa&default-theme=true

RNS Number : 3574S  VietNam Holding Limited  15 November 2021

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

Monthly Investor Report

A report detailing the activities of the Company for the month of October 2021
has been issued by Dynam Capital Limited, the investment manager of the
Company. Electronic copies of the report have been made available to
shareholders on the Company's website
(https://www.vietnamholding.com/media/ebvaacre/vnh-investor-report-october-2021.pdf)
 and a summary of the report is included below.

Reopening on a greener and keener keel

 

Vietnam's unique economic growth story made the international stage again in
October. This time in Glasgow where Prime Minister Pham Minh Chinh pledged
alongside more than 40 other countries around the world to phase out coal and
commit to achieving net-zero carbon emissions by 2050. Speaking at the 26th
session of the Conference of the Parties (COP26), he called for fairness and
justice in dealing with global climate urgencies and discussed the
Government's plans for trying to align its policies both with international
investors' corporate governance expectations and Vietnamese citizens' own
health and prosperity in mind.

 

Cities in the country's southern provinces were gradually reopening at the end
of October and the vaccination rollout continued to pick up pace with nearly
60% of the population having at least one jab. Additionally, the Government
fuelled domestic expenditure with more information about its stimulus
programme (which is expected to include stricter green components) while some
select companies surprised the market with solid earnings results for Q3
despite the Delta variant outbreak.

 

Vietnam's equities market also made news for setting another record high in
October and continuing its outperformance of other stock markets across the
wider Asia-Pacific region, including China and India. The Fund sustained its
outperformance of the Vietnam All Share (VNAS) index and NAV increased by
+7.3% for the month, with gains stemming mainly from real estate investee
companies as well as HPG, FPT and brokerage VND.

 

As COP26 continue to dominate headlines, it is important to consider how these
companies can overcome the challenges of transitioning to clean energy and
plan for a future without fossil fuels. Vietnam has quickly become a key
country in global supply chains, and local company directors know they will be
required not only to report about sustainability and their strategies for
reducing carbon emissions but also take more action to ensure they achieve
their goals and meet stakeholder demands.

 

VNH has always believed its stewardship role as a responsible investor is a
very important one when it comes to environmental and social matters in
Vietnam, and we will be enhancing our active engagement with boards and senior
management of our portfolio companies in regard to climate risks. We will work
with them more on how to measure and report about sustainability by providing
training and encouraging them to adopt internationally accepted accounting
standards. Earlier in 2021 the Fund's board pledged its own allegiance to the
Paris Agreement and commitment to the Task Force on Climate-related Financial
Disclosures (TCFD) in addition to becoming a member of the Asia Investor Group
for Climate Change (AIGCC). The portfolio's carbon footprint is also 32% lower
than the VNAS index. This has been a result of the Fund's active management
style in sector allocation and selection of best-in-class companies. VNH is
nimble and can navigate small to large companies and maintain the high-level
of engagement with investee companies on progressing their own ESG journeys
too.

 

In our view, the climate change transition requires everyone to play their
part and Vietnam is currently the largest market for renewable energy in the
region and is proactively directing investment into a greater mix of clean
sources that can interconnect in the grid over time. Foreign multinationals
have continued to set up operations in the country partly given its strategic
location at the cross point of Southeast and Northeast Asia and as the
government carries on with its privatisation process and the freeing up of
state capital. Foreign investors can also play an increasingly essential part
of the ESG story in Vietnam, which now makes up 30% of the MSCI Frontier
Market. As Vietnam's listed companies begin to raise their game on reporting
on sustainability and other issues, and as capital market reforms continue to
be implemented, the prospect of an eventual inclusion in the MSCI Emerging
Market index may whet appetites further.

For more information please contact:

Dynam Capital Limited

Craig Martin
                                                Tel:
+84 28 3827 7590

 

info@dynamcapital.com (mailto:info@dynamcapital.com) |www.dynamcapital.com
(http://www.dynamcapital.com)

 

www.vietnamholding.com (http://www.vietnamholding.com/)

finnCap

Corporate Broker and Financial Advisor
                                 Tel: +44 20
7220 0500

William Marle

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RESDKPBKPBDKPDD

Recent news on Wam Capital

See all news