VinaCapital announced a plan to change one of its investment funds, Vietnam Infrastructure Ltd. (VNI), into an open-end fund on October 16.
According to VinaCapital Managing Director Andy Ho, the fund will be split into two parts, one for infrastructure development projects and the other for a portfolio of listed shares.
The decision was prompted by the ongoing national trend to convert closed-end funds into open-end ones that allow capital investors to the fund to withdraw from the Vietnamese market more easily.
However, VinaCapital is not considering changing any other subsidiaries, such as the Vietnam Opportunity Fund Limited (VOF), as they are not suitable to the open-end model.
VNI was formerly a closed-end fund with net assets worth more than 231 million USD at the end of September. It mainly focused on projects in telecommunications, petroleum, industrial parks and urban area development.
VinaCapital is an asset management firm in Vietnam that currently manages three close-end funds registered on the AIM Market at the London Stock Exchange, including VOF, VinaLand Limited (VNL) and Vietnam Infrastructure Limited (VNI).
The firm also co-manages the DFJ VinaCapital LP technology venture capital fund with Draper Fisher Jurvetson, an international technology group.
Its net asset value now totals nearly 1.5 billion USD.-VNA
According to VinaCapital Managing Director Andy Ho, the fund will be split into two parts, one for infrastructure development projects and the other for a portfolio of listed shares.
The decision was prompted by the ongoing national trend to convert closed-end funds into open-end ones that allow capital investors to the fund to withdraw from the Vietnamese market more easily.
However, VinaCapital is not considering changing any other subsidiaries, such as the Vietnam Opportunity Fund Limited (VOF), as they are not suitable to the open-end model.
VNI was formerly a closed-end fund with net assets worth more than 231 million USD at the end of September. It mainly focused on projects in telecommunications, petroleum, industrial parks and urban area development.
VinaCapital is an asset management firm in Vietnam that currently manages three close-end funds registered on the AIM Market at the London Stock Exchange, including VOF, VinaLand Limited (VNL) and Vietnam Infrastructure Limited (VNI).
The firm also co-manages the DFJ VinaCapital LP technology venture capital fund with Draper Fisher Jurvetson, an international technology group.
Its net asset value now totals nearly 1.5 billion USD.-VNA
