Sai Gon Asset Management (SAM) has announced that its Viet Nam Equity Holding (VEH) and Viet Nam Property Holding (VPH), which are Viet Nam-focused and listed on the Frankfurt Stock Exchange and Xetra, enjoyed good asset value growth in the second quarter.
VEH's unaudited net asset value (NAV) per share was US$3.67 as of June's end, an increase of 11.1 per cent over the last quarter.
VEH was 94.4 per cent invested, 79 per cent in listed equities and 15.4 per cent invested in OTC shares.
VPH's unaudited NAV was $4.04, representing an increase of 10 per cent over the first quarter.
VPH was 96.9 per cent invested, 54.5 per cent in listed property equities, 28.8 per cent in property projects, 12.3 and 1.3 per cent invested in OTC and private equities respectively.
The two funds total $125 million.
London-based company Numis Securities ranked VPH as number one Viet Nam focused fund in NAV growth as of June 30.
According to Louis T. Nguyen, SAM's CEO and Director, shareholders have authorized the board of directors to use up to 962,000 euros ($1.28 million) at their discretion to repurchase the company's shares at a discount rate. The repurchase would be through stock market and private transactions within the bid/ask spread in accordance with laws and regulations in the next 12 months.
In other news, Mekong Capital announced that 21 investee companies held in its three funds reported an average increase of 30 per cent in net profit for the first six months compared to same period last year.
The companies include printing and packaging Minh Phuc, wire producer Ngo Han, furniture firm AA and Masan Food.