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Vietnam Enterprise Investments Ltd on Wednesday reported a decrease in net asset value in June, due to a lack of investor sentiment.
The Cayman Islands-registered investment company reported that its net asset value per share stood at $9.76 as at 30 June.
Meanwhile, its NAV totalled $2.0 billion on the same date.
Vietnam Enterprise said that its NAV per share declined 21% over the last three months and 17% over one year. Its reference index, the Vietnam Index, was down 21% over the last three months and down 15% over one in year, for comparison.
Vietnam Enterprise's top ten holdings finished down in June. Further, every sector in Vietnam's equity market experienced a reduction in the month, it said.
The investor in Vietnamese equities blamed this on private investors, who are ‘remaining on the sidelines until clarity emerges in the global economy’.
‘As this could be a protracted wait, it is possible that valuations over the near term are unlikely to reflect accurately the strength of the economy and its individual components,’ the company warned.
Vietnam Enterprise shares were unchanged at 636.00 pence each on Wednesday morning in London.
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