SAM Funds Rank Among Top Vietnam Performers in 2014

SAM 29th January, 2015

Vietnam Economic Times – Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), both under the management of Saigon Asset Management (SAM), were ranked in the Top 3 best investment performers in Vietnam by Edmond de Rothschild.

VPH ranked first in performance of a Vietnam focused fund in 2014, growing its NAV per share from €0.89 ($1) to €1.38 ($1.56), returning 54.4 per cent in Euro, 39.2 per cent in Vietnam dong (VND), and 34.5 per cent in USD terms. VEH, meanwhile, ranked third, increasing its NAV from €2.58 ($2.91) to €3.48 ($3.93), or 34.7 per cent in Euro, 21.1 per cent in VND, and 18.7 per cent in USD terms.

The Vietnam Index (VN-Index) opened the year at 505 points and closed at 546, an increase of 20 per cent in Euro, 8.1 per cent in VND, and 6.6 per cent in USD terms.

“To outperform the VN-Index and all peer funds is no easy task,” said Dr. Lee George Lam, Chairman of VPH and VEH. “I credit this stellar result to the SAM investment team, for selecting excellent companies, and to the much improved macro conditions in Vietnam. We foresee key growth drivers such as consumer staples, financial services, and real estate sectors to continue to flourish, which will benefit our funds’ investors and the capital market overall.”

Mr. Louis Nguyen, CEO and Chairman of Saigon Asset Management, the fund manager of VEH and VPH, attributed the strong market performance to two critical factors. “This has been the best year so far in our seven years in the Vietnam market,” he said. “Our investment team increased exposure in overbeaten sectors in early 2014 and exited overvalued shares in Q3. As the market corrected in late Q4 we had already realized gains and even bought back attractive undervalued shares. As Vietnamese companies are still undervalued and a pipeline of attractive SOEs are being equitized, 2015 will be a year to watch.”

Top 5 Vietnam Focused Funds 2014, Dollar NAV Performance, ranked by LCF Rothschild

Fund NameFund Manager% NAV growthFund Size ($ million)
Vietnam Property Holding Saigon Asset Management 34.5 21
Lumen Vietnam Fund CBR Investment AG 20.8 21
Vietnam Equity Holding Saigon Asset Management 18.7 75
Vietnam Holding Ltd Vietnam Holding AM 15.8 130
Vietnam Debt Fund SPC Dragon Capital 14.4 30