Fund Information
SECURITIES INFORMATION

VEIL is traded on the Main Market of the London Stock Exchange (Ticker: VEIL.LN). There are no other exchanges or trading platforms on which VEIL has applied or agreed to have its shares admitted or traded.

TRADING
broker
Jefferies International Limited | Contact: Michele White; Phone: +44 207 898 7140; E-Mail: mwhite@jefferies.com
isin
KYG9361H1092
sedol
BD9X204
cusip
G9361H109
reuters
LP60078461
bloomberg
DGCP or VEIL.LN
Significant shareholders

The table below lists VEIL’s significant shareholders as of 24 Feb 2017:

Shareholders Number of voting shares %-Age of holding
Bill & Melinda Gates Foundation Trust 25,049,173 11.38%

Shareholders need to comply with the notification and disclosure requirements set out in Chapter 5 of the Transparency Rules of the UK Financial Conduct Authority. If it comes to the attention of the Directors that a shareholder has not within the requisite period disclosed their holding in the Company, the Company may, inter alia, at the discretion of the Directors, notify the shareholder that their shares in relation to the holding shall not be entitled to a vote, either in person or in proxy, at any general meeting of the Company.

directors' interest in shares

The interest of the Directors and senior managers of Dragon Capital in the shares of VEIL were as follows as at 24 Feb 2017:

Director Number of voting shares %-Age of holding
Gordon William Lawson 25,000 0.01%
VEIL
Vietnam Enterprise Investments Limited
NAV (M)
USD 1496.85
GBP 1115.60
USD 6.80
Fund Detail
country Cayman Islands
inception date 11 August 1995
issued shares 220,125,680
legal entity identifier (lei) 213800SYT3T4AGEVW864
benchmark VN Index / MSCI EM Index / VN 30 Index
nav frequency Daily
functional currency US$
fees (a) 2.00% per annum on the first US$1,250,000,000 of the Net Asset Value; and (b) 1.75% per annum on the portion of the Net Asset Value in excess of US$1,250,000,000 and less than or equal to US$1,500,000,000; and (c) 1.50% per annum on the portion of the Net Asset Value above US$1,500,000,000. (Effective 1 August 2017)
For full details, download our Factsheet
Factsheet
FAQ
What is VEIL’s investment strategy and process?

VEIL concentrates on value opportunities using a ‘bottom up’ approach based on Vietnam’s general economic story. The team managing the Fund includes a portfolio manager and two deputy managers overseen by an Investment Committee. All investment decisions are rigorouly screened by Dragon Capital’s in-house research team.

How do I invest in VEIL?

As VEIL is a listed fund, shares can be bought through Jefferies, VEIL's appointed broker, or any other broker.

What are VEIL’s management and performance fees, and total expense ratio?

VEIL’s management fee is (a) 2.00% per annum on the first US$1,250,000,000 of the Net Asset Value; and (b) 1.75% per annum on the portion of the Net Asset Value in excess of US$1,250,000,000 and less than or equal to US$1,500,000,000; and (c) 1.50% per annum on the portion of the Net Asset Value above US$1,500,000,000. (Effective 1 August 2017)

There is no performance fee and the TER is approximately 2.35%

Does VEIL pay a dividend?

No. All dividends from holdings are reinvested in the fund to help cover on-going expenses.

How is VEIL’s NAV calculated?

It is calculated daily using the closing price of listed equities, the OTC price of the holdings on UPCOM, and any cash in the fund.

Why is VEIL’s share price different from its NAV?

As a freely traded fund its price is determined by the market, not by the holdings’ underlying value.

Is VEIL’s financial reporting in USD or GBP?

All reporting, both semi-annual and annual, is in USD.

In what currency is VEIL’s (daily) NAV issued?

Both USD and GBP.

As USD is the functional currency, will VEIL’s price performance be reported in GBP or USD?

Performance will usually be reported in both currencies (if space is limited, USD will have priority).

Will VEIL shares continue to be issued in USD?

Yes, nominal value will in USD.

Which currency will VEIL issue new shares in? Will VEIL receive USD in the primary market?

New primary shares will be issued in GBP, with proceeds converted into USD.

Will secondary trading be settled in GBP?

Yes.

Should market makers carry VEIL shares in their books in USD or GBP?

GBP.