28th Jan 2016 18:20
LONDON (Alliance News) - VietNam Holding Ltd said Thursday that it outperformed its benchmark in the half year to end-December.
The closed-end investment company said it saw a total return on net asset value of 8.4% in the half year, outperforming the USD adjusted Vietnam All Share Index, which saw a negative total return of 0.8%.
VietNam Holding said the period was dominated by news about the Chinese economy and currency; slowing Chinese growth has hit the emerging world "particularly hard", the company said.
Vietnam is closely linked to China, and as a result recent developments in China "loom large." However, the investment company noted that Vietnam is "beating to its own economic drum", seeing gross domestic product growth speed up to 6.7% in 2015.
"We all remain committed to ensuring that VNH is the investment vehicle of choice for long-term, value-oriented Vietnamese equity market investors who share our strong commitment to environmental, social and good governance practices," the company said in a statement.
Shares in VietNam Holding closed down 0.8% at 1.77 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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