Guernsey Welcomes Fund From Cayman
by Jason Gorringe, Lowtax.net, London
11 April, 2016
Guernsey Finance has welcomed the migration of VinaCapital Vietnam Opportunity Fund (VOF) from the Cayman Islands to Guernsey.
In addition to changing its domicile, VOF has also moved its listing from the UK Alternative Investment Market (AIM) to the London Stock Exchange's Main Market.
The directors of VOF announced their intention to migrate VOF to Guernsey back in October 2015, highlighting the fund's place of domicile and its quotation on AIM as barriers to certain potential new investors. Guernsey Finance said among the reasons for choosing Guernsey were the island's well-established infrastructure for the administration of closed-ended funds listed on the LSE and a robust regulatory and compliance regime.
Guernsey Finance Chief Executive Dominic Wheatley said: "It is extremely encouraging to hear of VOF's migration to Guernsey. News of this type reinforces the fact that Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, excluding the UK."
VOF is a closed-ended fund and is one of the largest and most successful funds investing in growth areas in the Vietnamese economy. As at March 31, 2016, the fund's net asset value was USD710.5m.
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