2026 Investor Briefing, AGM and Lunch

Overview

The VEIL 2026 Annual General Meeting was held at Stationers’ Hall in London, hosted by the Board of Directors of Vietnam Enterprise Investments Limited (VEIL) — managed by Dragon Capital — and followed by a Vietnamese buffet lunch. The event brought together shareholders, institutional investors, and individuals interested in Vietnamese equities to hear directly from Dragon Capital’s leadership on Vietnam’s political and economic development, the country’s reform agenda, and the outlook for the equity market heading into the second half of 2026.

Key Discussion Points

• AGM Business & Board Update: At the VEIL 2026 Annual General Meeting, formal resolutions including adoption of VEIL’s FY2025 annual report, reappointment of KPMG Vietnam as auditor, director re-elections, a share buyback authorization of up to 14.99% of issued capital, and confirmation of Simon Davis as incoming Chair effective 1 July 2026
• Vietnam Macro Update: Vietnam’s record first-quarter 2026 GDP growth, easing inflation, credit and monetary conditions, a fiscal surplus that widened sharply year-on-year, and $50 billion in newly announced infrastructure investment across five Hanoi metro lines, including a note on progress toward Vietnam’s FTSE Russell Secondary Emerging Market reclassification, expected to take effect in September 2026
• VEIL Portfolio & Performance: A review of VEIL’s NAV and share price performance, the fund’s ongoing tender offer and share buyback program aimed at narrowing its discount to NAV, and how the portfolio is positioned around Vietnam’s long-term consumption and infrastructure growth themes
• Sector Strategy: Detailed positioning across banking, retail, and real estate/infrastructure, including the fund’s approach to Vingroup and Vinhomes, and rationale for the portfolio’s largest sector overweight in banking
• ESG & Climate Reporting: An update on VEIL’s expanded scope 1–3 carbon emissions data and the portfolio’s carbon intensity relative to Vietnam and regional emerging market benchmarks
• Live Q&A: Board and analyst responses on AI investment exposure, Vingroup’s index weighting relative to fundamentals, banking sector liquidity and funding costs, climate change risk, buyback policy, and currency and gold dynamics

Full results of the VEIL 2026 Annual General Meeting, including the outcome of each resolution, were announced to the London Stock Exchange. Resolutions passed at the meeting are available in the fund documents section.

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