26 October 2009
For immediate release
VinaCapital Group - 2009 International Investor Conference
Review of Vietnam market developments and discussion of outlook and trends
HANOI – VinaCapital Group, a leading asset management, investment banking and real estate investment firm focused on Vietnam, is today holding its 2009 Investor Conference at the Sofitel Legend Metropole Hotel, Hanoi.
At its annual conference VinaCapital invites foreign investors to Vietnam to review the past year’s economic and investment performance, and discuss the outlook for the market and VinaCapital’s funds in the coming year. The conference will comprise one day of presentations and panel discussions, followed by a half-day of private one-on-one meetings with investors
Reflecting on market developments, VinaCapital Chairman Horst F. Geicke commented: “Early 2008 saw a liquidity crisis after the Vietnamese government presciently tightened fiscal and monetary policy, followed by the impact of the global financial crisis in the second half of the year. Vietnam has shown incredible resilience in overcoming these two principal challenges and has delivered on its five percent GDP target for 2009.
Looking forward, Horst added: “The Ho Chi Minh City and Hanoi stock market recoveries in 2009 have provided a platform for strengthened investment returns and an improved environment for deal-making.
“But while companies and investors here in Vietnam have a very positive outlook, international investors are still reeling from the global crisis. As a result, our funds continue to trade at significant discounts, with share prices well below NAVs. We view this as an anomaly given the strong investment environment in Vietnam and the results we have recorded in 2009.”
VinaCapital’s three AIM-traded investment funds – focused on capital markets, private equity, real estate and infrastructure – have a total of USD1.7 billion in assets under management as of September 2009. Investment activity over the past year has included:
VinaCapital CEO Don Lam commented: “It has been a very busy year for us as we continue to source and execute deals for our existing funds, while preparing for the launch of new limited partnership funds over the coming 12-18 months.
“Despite the market conditions, we have been able to successfully dispose of a number of private equity and real estate investments at meaningful profits.
“We believe the next two years will see renewed interest in Vietnam among foreign institutional investors around the globe, and our firm is positioned as the top general partner addressing the Vietnamese market.”
This is VinaCapital’s fourth investor conference since 2003. The conference will open with a keynote address by Professor Kenneth Courtis, founding partner of Themes Investment Management and former vice chairman of Goldman Sachs.
Don Lam stated: “VinaCapital strives for an open and ongoing dialogue with our investors. One of our key messages this year is that the share prices of our funds are not an accurate reflection of the investment environment in Vietnam. The conservative nature of our valuation policy has been repeatedly borne out by the prices achieved for assets sold in recent months."
Notes to Editors:
VinaCapital Group is a leading asset management, investment banking and real estate consulting firm with unrivalled experience in the Vietnamese market. VinaCapital Group was founded in 2003 and has grown from a single USD10 million fund to a diversified investment firm with over USD1.6 billion in assets under management as of July 2009.
VinaCapital manages three closed-end funds trading on the AIM Market of the London Stock Exchange. These are:
VinaCapital also co-manages the DFJ VinaCapital technology venture capital fund with Draper Fisher Jurvetson and holds a dominant stake in VinaSecurities JSC, a brokerage firm. More information is available at www.vinacapital.com.
Mr Michael Gray
VinaCapital Investment Management Limited
Mr Alastair Hetherington
Financial Dynamics, Public Relations (Hong Kong)
+852 3716 9802