(Ho Chi Minh City, Vietnam) Saigon Asset Management (SAM), the investment manager of the listed investment funds Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), are delighted to announce our two funds were in the top three best performing Vietnam focused funds in 2014, as calculated by Edmond de Rothschild.
• VPH, the #1 performing Vietnam focused fund in 2014, grew NAV per share from €0.89 to €1.38, returning 54.4% (EUR), 39.2% in Vietnam Dong (VND) and 34.5% (USD) terms.
• VEH, the third highest performer, increased its NAV from €2.58 to €3.48, an appreciation of 34.7% (EUR), 21.1% (VND) and 18.7% (USD).
• The Vietnam Index (VNI) opened the year at 505 and closed at 546, an increase of 20.0% in Euro (EUR), 8.1% (VND) and 6.6% in US Dollar (USD).
Dr. Lee George Lam, the Chairman of VPH and VEH, commented on the rise of these two funds: “To outperform the Vietnam Index and all peer funds is no easy task. 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.”
Louis Nguyen, the CEO and Chairman on Saigon Asset Management, the fund manager of VEH and VPH, attributed the strong market outperformance to two critical factors. “This has been the best year so far in our 7 years in the Vietnam market. 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 already realized gains and even bought back attractive undervalued shares. As Vietnamese companies are still undervalued and a pipeline of attractive SOEs is being equitized, 2015 will be a year to watch.”
The senior management team of SAM will be traveling globally to visit with investors in March and April 2015. Please contact us at the coordinates below if you would like to arrange for a meeting or conference call.
About Saigon Asset Management
Established in 2007, Saigon Asset Management (SAM) is investment manager of Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), both domiciled in the Cayman Islands and listed on the Stuttgart stock exchange. SAM provides solutions in investment management and advisory services that are performance focused while adhering to the highest levels of business ethics. SAM maintains a representative office in Ho Chi Minh City and employs a team of investment professionals with diverse international financial backgrounds and proven track records. For more information, please visit our website at www.saigonam.com
Saigon Asset Management
Vietnam Focused Funds 2014 Dollar NAV Performances
|Fund Name||Fund Manager||% NAV growth||Fund 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|
|Vietnam Emerging Equity Fund||PXP Asset Management||12.8||38|
|Blackhorse Enhanced Vietnam Inc||Blackhorse Asset Management||12.6||4|
|Manulife Progressive Fund||Manulife Asset Management||12.2||10|
|Vietnam Enterprise Investment Ltd||Dragon Capital||10.7||566|
|DWS Vietnam Fund||Deutsche Asset Management||10.5||359|
|JP Morgan Vietnam Opportunities||JP Morgan Asset Management||10.0||118|
|Vietnam Azalea Fund||Mekong Capital||10.0||66|
|Fullerton Vietnam Fund||Fullerton Fund Management||9.8||38|
|Vietnam Opportunity Fund||VinaCapital||9.0||768|
|Vietnam Fund||PXP Asset Management||7.0||81|
|Vietnam Emerging Market Fund||Vietnam Asset Management Ltd||6.1||9|
|VF1 Vietnam Securities Fund||VietFund Management||5.9||95|
|Vietnam Property Fund||Dragon Capital||5.5||70|
|Vietnam Growth Fund||Dragon Capital||5.2||302|
|Aseana Properties Limited||Aseana Management||3.3||164|
|MSCI Frontier Markets Index||–||2.9||–|
|VF4 Vietnam Blue-Chips Fund||VietFund Management||2.6||35|
|Market Vectors Vietnam ETF||Van Eck Associates||1.1||368|
Figures as of 31th December 2014
Published 14th January 2015