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Vietnam Enterprise Investments reduces management fee
StockMarketWire.com
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The board of Vietnam Enterprise Investments has announced a reduction in fees with effect from July 1, 2021, following an evaluation of the charging structure.
From the start of July, the management fee will be amended to 1.85% per annum of Net Asset Value (NAV) for the first US$1.25 billion, reducing to 1.65% per annum for NAV between US$1.25 billion and US$1.5 billion and further reducing to 1.50% per annum for NAV above US$1.5 billion.
The Investment Manager is not entitled to a performance fee.
Stanley Chou, independent non-executive chair of the company, said: 'Over more than 25 years, Vietnam Enterprise Investments Limited has offered its investors access to one of the most exciting and dynamic markets in South East Asia.
'Since the inception of the Vietnamese stock market in 2000, VEIL has delivered a 20-year USD net CAGR of 11.9%. This demonstrates that VEIL has represented good value to its long-term holders and we hope VEIL will continue to deliver value to our investors going forward."
At 1:13pm: (LON:VEIL) Vietnam Enterprise Investments Limited share price was 0p at 507p
Story provided by StockMarketWire.com
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