Considering options for future strategy
VinaLand (VNL) is a closed-end fund set up in 2006 to invest in property development in Vietnam. Following a difficult period for the country’s real estate market, an extraordinary general meeting (EGM) in November 2012 saw shareholders vote in favour of a three-year programme of divestment and realisation, which was extended by a further year at an EGM in November 2015. With the Vietnamese property market now more buoyant, VNL is well advanced towards its 12-month target of $165m of realisations and has recently made a capital distribution of $35m. The fund’s board, in consultation with shareholders and the manager, is continuing to develop options for a new strategy for a new term that would commence at the EGM likely to be held in November 2016.Vinaland is a closed-end investment company. Co.'s primary investment objective is to achieve medium to long-term capital appreciation and to provide income, dividends and other distributions through investment in liasted and unlisted companies, debt, private equity, real estate and other invesment opportunities in Vietnam and surrounding Asian countries: Cambodia, Laos and Southern China. As of June 30 2016, Co. had total assets of US$654,515,000 and Co.'s total investment properties was US$389,700,000.
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