November was another very good month for the Vietnamese stock markets. On the economic front, industrial output rebounded 5.6% year-on-year in November, contrasting October’s 5.9% decline. The figure marked the first month of growth after four consecutive months of falling output, and reflected a return to growth in the all-important manufacturing sector. Over the month, Ho Chi Minh index is up by 2.4% and Hanoi index is up by 11.1%. Our reference portfolio is up by 5.5% this month. Anh Thomas returns over the long run are quite impressive. Since being launched, Anh Thomas portfolio overall return is +813.4% greatly outperforming both Hanoi and Ho Chi Minh indexes (+563.7% and +271.4% respectively).