P i t Cli t P tf liP i t Cli t P tf liPrivate Client PortfolioPrivate Client PortfolioFor VIP ClientsFor VIP ClientsFor VIP ClientsFor VIP Clients

2016

Table of ContentTable of Content

1. About UsCorporate Introductionp

Track Record

2. Private Client Portfolio2. Private Client PortfolioKey Information

Terms and FeesTerms and Fees

Weekly and Monthly Report Samples

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About VAMAbout VAMSuccessful 9-year performance track record of managing foreign

funds, including some of the first open-ended funds investing in Vietnam

stock market.

Strategic partner of leading financial institutions such as DZ

PRIVATBANK, and IPConcept in Europe.

Currently managing Private Client Portfolios for Investors from Australia,

Singapore, Malaysia and Vietnam.

International standard of risk management and compliance systems;

Sophisticated in-house company analysis system (VCAS)

Following 100+ public companies, representing 90%+ of total market

by market cap.

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VAMVAM TeamTeamNguyen Thi Thu Ha, CFA (Senior Analyst)

Nguyen Xuan Minh, CFA (Co-Founder, Executive Chairman & Fund Manager)

• 19 years of fund management experience in Singapore and Vietnam• Was Senior Vice President of Franklin Templeton

g y , ( y )• 8 years experience in investment analysis, portfolio management and M&A advisory in Vietnam • Has wide understanding of Vietnamese listed companies• Master of Banking and Finance from Ho Chi Minhp

Investments managing Asian funds• Board member of large public and private companies in Vietnam• Master of Petroleum Engineering (Russia) & Master of Finance (Australia)

Master of Banking and Finance from Ho Chi Minh City University of Economics (Vietnam)• CFA Charterholder. Speaks Vietnamese and English

Le Vu Van Anh (Analyst)• Nearly 3 years experience in data, financial and i t t l i i Vi t d th U S• CFA Charterholder. A licensed fund manager in Vietnam.

Speaks Vietnamese, English and Russian

Thieu Thi Nhat Le, MBA (CEO)• 13 years experience in Business Development and Management with 6 years in top executive management at

investment analysis in Vietnam and the U.S.• Bachelor of Business Administration, major in Finance Concentration and Financial Analysis, from James Madison University (USA) (Graduated with Magna Cum Laude Honor)

Management with 6 years in top executive management at VAM• Has wide experience in fund set-up and operations in various jurisdictions• Master of Business Administration from Maastricht School of Management (the Netherlands)

Dinh Truc Phuong (Analyst)• 1,5 years experience in market research, financialand investment analysis in Vietnam and Finland• Bachelor degree in International Business and

• Speaks Vietnamese and English

Dao Loc Thanh (Investment Director)• 9 years experience in investment analysis, fund management

School of Management (the Netherlands) • Expected to be a licensed fund manager in Vietnam by end of 2015. Speaks Vietnamese and English

gFinancial Management from HAAGA-HELIAUniversity of Applied Sciences (Finland)• CFA Level 2 Candidate. Speaks Vietnamese andEnglish

Nguyen Hong Nhung (Head Fund Administration)y p y , gand equity trading in Vietnam • Has extensive knowledge of Vietnam stock markets• Bachelor degree in Electronics and Telecommunicationsfrom Vietnam National University • A licensed fund manager in Vietnam. Speaks Vietnamese

Nguyen Hong Nhung (Head, Fund Administration)• 5 years experience in banking and fund administration in Vietnam • Bachelor degree in Banking and Finance(Distinction) from Banking University of HCMC &Bachelor degree in English Language (Vietnam)A licensed fund manager in Vietnam. Speaks Vietnamese

and English

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Bachelor degree in English Language (Vietnam)• CFA Level 3 Candidate. Speaks English andVietnamese

VAM Funds VAM Funds vs. Benchmark and vs. Benchmark and Peers (1)Peers (1)(Since Feb 2007 – Dec 2015) (Since Sep 2007 – June 2015)( )

6 00

8.00

10.00

12.00

14.00

( p )

71.4%8.00

10.00

12.00

14.00

43.4%

0.00

2.00

4.00

6.00

0.00

2.00

4.00

6.00

VVSF VN-Index (USD)

10%

20% 13.1%

VEMF VN-Index (USD)

0%

10% 3.6% 2.9%

40%

-30%

-20%

-10%

0%-1.7% -4.2%

-10.9%

-30.6%-40%

-30%

-20%

-10% -2.6%

-20.7%

39 7%

-60%

-50%

-40% 30.6%-35.2%

-48.9%-58.3%-70%

-60%

-50%-39.7%

-45.4%-49.3%

-64.1%

Source: LCF Rothschild, VAM

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VAM Funds VAM Funds vs. Benchmark and vs. Benchmark and Peers (Peers (22))(Since Feb 2008 – Feb 2014) (Since Mar 2010 – Feb 2014)( ) ( )

0.500.600.700.800.901.00

122%0.080.100.120.140.16

42%

0.000.100.200.300.40

0.000.020.040.06

HLVF VN-Index (MYR)

80%

100%80.7%

HVSF VN-Index (MYR)

50%

60% 59.7%

0%

20%

40%

60%

6.6% 3.9% 2.3%

2 7%20%

30%

40%

50% 43.8% 41.8%36.8% 36.3%

33.3%

-60%

-40%

-20% -2.7%-14.5%

-24.3% -24.4%-41.8% 0%

10%8.8% 8.4%

2.1%

Source: LCF Rothschild, VAM

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VEMF SICAV vs. Benchmark and ETFsVEMF SICAV vs. Benchmark and ETFsSince inception in Jun 2014 – 30 Dec, 2015

1400

1200

1300

1000

1100

800

900

VEMF SICAV (Class A) VNIndex (EUR) FTSE Vietnam UCITS ETF 1C (EUR) Market Vectors Vietnam ETF (EUR)

Past data is no indicator for the future performance and no guarantee for success in the future The calculation of past performance figures were based on the Fund’s daily

- Sharpe Ratio @ 5% Risk Free: 0.64 - Tracking Error: 10.12

Source: VAM’s VCAS

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Past data is no indicator for the future performance and no guarantee for success in the future. The calculation of past performance figures were based on the Fund s daily NAV report which is issued by Union Investment Financial Services S.A., and they were calculated on the basis that any distributable income of the fund has been reinvested.

Private Client Portfolio ServicePrivate Client Portfolio ServicePrivate Client Portfolio ServicePrivate Client Portfolio ServiceKey Information

Terms and FeesTerms and Fees

Weekly Portfolio Update Sample

M hl P f li R S lMonthly Portfolio Report Sample

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Key InformationKey Information

Type: Private Client Portfolio

Investment Goal: To achieve mid to long-term capital growth that is

higher than the interest rate at banks

Investment Strategy: Mid to long-term investment horizon; bottom-upInvestment Strategy: Mid to long term investment horizon; bottom up

and value-based stock picking

Focus: Public Listed Stocks on Vietnam bourses

P tf li T b b ilt t l b d ti l i k tit dPortfolio: To be built separately based on particular risk appetite and

investment objectives of each Investor

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Terms and FeesTerms and Fees

Minimum Investment: USD 300,000

Management Fee: 1.5% p.a

Performance Fee: 15% profit on high-water-mark basis

Minimum Investment Period: 3 months

Report and Update: weekly, monthly, annually

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Weekly Portfolio Update SampleWeekly Portfolio Update Sample

Provide Investors with:

Details on Portfolio HoldingsDetails on Portfolio Holdings

Weekly Performance

(Gain/Loss) of the Portfolio(Gain/Loss) of the Portfolio

Investment returns since

i tiinception

Weekly Update

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Monthly Portfolio Report SampleMonthly Portfolio Report Sample

Provide Investors with:

Details on Portfolio HoldingsDetails on Portfolio Holdings

Monthly Performance

(G i /L ) f th P tf li(Gain/Loss) of the Portfolio

Investment returns since

inception

Monthly Net Asset Value (NAV)

of the Portfolio, verified by the

Custodian Bank

Monthly macro and market

updateMonthly Report

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Disclaimer

This report has been prepared by Vietnam Asset Management Limited (“VAM”) or an affiliate thereof and has been prepared on the basis of information obtained from sources VAM considered to be reliable, but VAM does not make any representation or warranty, express or implied, as to its accuracy completeness timeliness or correctness VAM may use certain assumptions or models inaccuracy, completeness, timeliness or correctness. VAM may use certain assumptions or models in the preparation of this report and different assumptions may provide substantially different results.

No representation is made that any investment or recommendation contained herein is suitable or appropriate for the recipient and does not constitute an advertisement solicitation or offer to buy orappropriate for the recipient and does not constitute an advertisement, solicitation or offer to buy or sell securities, futures, options or other financial instruments in Vietnam or any other jurisdiction. This report shall not be a substitute for the exercise of the recipient’s judgment in making an investment decision and VAM accepts no liability for investment losses.

VAM, its affiliates, related companies and its respective directors and employees, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities, referred to in this research.

VAM, its affiliates, related companies and its respective directors and employees accept no liability for any direct, special, indirect, consequential, incidental damages or any other loss or damages of any kind arising from any use of the information herein or further communication thereof, even if VAM or any other person has been advised of the possibility thereofVAM or any other person has been advised of the possibility thereof.

Copyright 2016 Vietnam Asset Management Limited. No part of this report may be reproduced or distributed without the prior consent of Vietnam Asset Management Limited. All rights reserved. This report may only be distributed as permitted by applicable lawreport may only be distributed as permitted by applicable law.

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Unit 01-A 15th Floor The LandmarkUnit 01 A, 15 Floor, The Landmark,5B Ton Duc Thang Street, District 1, Ho Chi Minh City, Vietnam

Phone: (84) 8 3910 3757Fax: (84) 8 3910 3794Email: IR@vietnamam.com@Website:www.vietnamam.com

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