April was a mixed month for Vietnamese stock markets. Real estate stocks were the big winners this month, while energy and utilities stocks were the worst performers. On the economic front, Vietnam's Manufacturing Purchasing Managers Index reached 54.7 in April, the highest since November 2018. Over the month, Ho Chi Minh index is up by 4.0% and Hanoi index is down by 1.7%. Our reference portfolio is down by 3.5% this month. Anh Thomas returns over the long run are quite impressive. Since being launched, Anh Thomas portfolio overall return is +586.3% greatly outperforming both Hanoi and Ho Chi Minh indexes (+308.3% and +211.4% respectively).