PXP Asset Management (LON:VNF) - Emerging growth
May 31st 2012 - Edison Investment Research today published a report on PXP Asset Management (VNF.L, LSE:VNF, LON:VNF) entitled "Emerging Growth". In summary, the report says:
The Vietnamese equity market has recently come back to life after a four-year bear market where stocks fell and company valuations de-rated despite continued growth in the economy. With inflation falling and the currency showing a more stable trend, domestic appetite for equities has returned. The manager of PXP Vietnam Fund (VNF) believes the market will continue to climb, supported by economic factors, low valuation and structural reforms. The fund invests solely in Vietnamese equities, is managed locally by a specialist manager and trades at an 13.5% discount to PXP Asset Management’s estimated NAV.
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