The objective is to achieve medium to long-term returns through investment either in Vietnam or in companies with a substantial majority of their assets, operations, revenues or income in, or derived from, Vietnam. All of the Company's investments will be in Vietnam or in companies with at least 75% of their assets, operations, revenues or income in, or derived from, Vietnam at the time of investment. The Company may from time to time invest in other funds focused on Vietnam; make co-investments alongside other investors in operating assets, structured and private equity investments or similar assets; hold cash or low risk instruments such as government bonds or cash funds denominated in either Vietnamese Dong ("VND") or US Dollars ("USD"), either in Vietnam or outside Vietnam.
Management fee at 1.5% of net assets, levied on the first USD 500m 1.25% between USD 500m and 1000m 1% between USD 1000m and 1500m 0.75% between USD 1500m and 2000m and 0.5% above USD 2000m. Incentive fee is 12.5% of any increase in NAV above an 8% p.a. hurdle rate.
The Board now intends to maintain a dividend of USD5.5 cents representing approximately 1% of NAV for each half year, normally declared in March and October.