VNI converts to open-ended fund

Vietnam Infrastructure Ltd (VNI), a fund managed by VinaCapital, has changed from being a close-ended investment fund to an open-ended fund.

This was disclosed by VinaCapital representative at the annual investor conference, last week.

This is part of the new ongoing trend of converting close-ended funds into open-ended ones, a move that allows capital investors to withdraw from the Vietnamese market with much more ease.

According to VinaCapital managing director Andy Ho, VNI will be divided into two parts, one for infrastructure development projects and other for a portfolio of listed shares.

VinaCapital made it clear that it is not considering converting any other funds such as the Vietnam Opportunity Fund Limited (VOF), as they are not suitable for the open-end model.

VNI was formerly a closed-end fund with net assets worth around 5 trillion VND ($231 million) at the end of September. Its investments include projects in sectors like telecommunications, petroleum, industrial parks and urban area development.

VinaCapital is a Vietnam-based asset management that currently manages three funds, registered on the AIM Market at the London Stock Exchange. These include VOF, VinaLand Limited (VNL) and Vietnam Infrastructure Limited (VNI). Its largest subsidiary is VOF with $831.8 million, followed by VNL with $421.2 million and then VNI. The firm also co-manages the DFJ VinaCapital LP technology venture capital fund with Draper Fisher Jurvetson, an international technology group. VinaCapital net asset value now totals nearly $1.5 billion.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.