Non-Mainstream pooled investments

RNS Number : 9922H

VinaCapital Vietnam Opp. Fund Ld

27 May 2014

 



27 May 2014

VinaCapital Vietnam Opportunity Fund Limited

Statement regarding non-mainstream pooled investment products

The Board of Directors (the "Board") for VinaCapital Vietnam Opportunity Fund Limited ("VOF", the "Company") has taken note of the changes to the Financial Conduct Authority ("FCA") rules relating to the restrictions on the retail distribution of unregulated collective investment schemes and close substitutes which came into effect on 1 January 2014 and has taken legal advice on this matter. The Board believes that the retail distribution of its shares should be unaffected by the changes promulgated by the FCA.

Based on this legal advice, the Board believes that the Company's shares will qualify as an 'excluded security' under these new rules and will therefore be excluded from the FCA's restrictions which apply to non-mainstream investment products because the returns to investors are, and are expected to continue to be, wholly or predominantly linked to, contingent on, highly sensitive to or dependent on, the performance of or changes in the value of shares, debentures or government and public securities.

It is the intention of the Board that the Company will continue to be operated going forward in such a manner as to ensure that the shares are not categorised as non-mainstream pooled investments and that, accordingly, the shares can continue to be recommended by IFA's to ordinary retail investors in accordance with the FCA's rules.

The Board is however aware that no formal guidance has yet been issued by the FCA in relation to the application of these rules to non-UK companies and that the rules may be subject to further change. The Board will assess any future changes to the rules as they arise and will communicate any further implications for the Company and its securities via a subsequent announcement.

More information on the Company is available at www.vinacapital.com/vof

Enquiries:

David Dropsey

VinaCapital Investment Management Limited

Investor Relations/Communications

[phone]

[e-mail]

Philip Secrett

Grant Thornton UK LLP, Nominated Adviser

[phone]

[e-mail]

Hiroshi Funaki / Andrew Davies

Edmond de Rothschild Securities, Broker

[phone]

[e-mail]  

David Benda / Hugh Jonathan

Numis Securities Limited, Broker

[phone]

[e-mail]

Andrew Walton

FTI Consulting, Public Relations (London)

[phone]

[e-mail]

 

END

 

 

MSCQKNDKOBKDKPB