Vietnam Phoenix Fund Limited
The Vietnam Phoenix Fund Limited (“the Fund”), previously DWS Vietnam Fund, is managed by Duxton Asset Management Pte Ltd (“Duxton”). The Fund was established on 8 December 2006 by Deutsche Asset Management (Asia) Limited (“DeAM Asia”). In 2009, the fund’s investment team spun off from DeAM Asia to form Duxton who, consequently, has been providing investment management and advisory services in relation to the Fund’s investments under the terms of a sub-delegation agreement between DeAM Asia and Duxton. In September 2016, DeAM Asia resigned as Investment Manager of the Fund, effective 30 September 2016. Duxton was appointed as the Fund’s Investment Manager on 1 October 2016.
The primary investment objective of the Fund is to seek long-term capital appreciation of its assets by investing directly or indirectly in a diversified portfolio of securities such as equity and debt instruments of entities that do some or all of their business in Vietnam.
Duxton Asset Management Pte Ltd is an independent asset management firm, incorporated in Singapore on 19 February 2009, and was formed as a result of the spin-out of the Complex Asset Investments Team of DeAM Asia. Duxton is regulated by the Monetary Authority of Singapore pursuant to the Securities and Futures Act, (Chapter 289), of Singapore and holds a Capital Markets Services License to conduct the regulated activities of fund management for accredited and institutional investors (as defined in the Securities and Futures Act, Chapter 289 of Singapore).
Led by senior industry participants with an average of 23 years of experience, Duxton uses its global network and in-house expertise to identify attractive investment opportunities for institutional, semi-institutional and high net worth investors and invests alongside its clients. Assets under management and assets under advice were approximately USD 580 million (as of 31 July 2017).
Currently the Duxton Group (i.e. Duxton Capital and its subsidiaries) has 31 employees. The Group’s structure is composed of a sales & client services team, an investment team, an operations & finance team and a legal & compliance team overseen by the management committee of Duxton.
Duxton upholds strict compliance standards through an in-house legal & compliance team that maintains Duxton’s compliance policies and procedures. In addition, it has robust operational control procedures in place.
Duxton’s investment team has experience in investing across asset classes in Vietnam since 1999. The investment team has 15 members, of which 11 are involved in the management of the Vietnam Phoenix Fund, based in Singapore and Ho Chi Minh City, Vietnam.
Board of Directors
Kevin Phillip is an Executive Director of DMS Governance Ltd. (DMS) and serves as an independent director on the boards of a variety of hedge fund and related structures. He leads a team of professionals at DMS, supervising the fund governance of hedge funds and providing guidance on accounting, regulatory, legal, outsourcing and financial issues.
He also serves as Business Unit Leader of the DMS International Tax Compliance Group, a specialist group of attorneys, accountants, and compliance experts that deliver customized solutions to meet international tax compliance obligations.
Mr. Phillip gained experience working as an auditor with Ernst & Young in New York and the Cayman Islands, focusing on large international financial institutions, domestic and offshore hedge funds and mutual funds. His hedge fund client base had assets in excess of US$12 billion under management.
He qualified as a Certified Public Accountant in New York and holds a Master of Science degree in Accountancy from the University of Notre Dame and a Bachelor of Business Administration degree in both Accounting and Finance from North Carolina Central University.
Mr. Phillip is a Registered Director with the Cayman Islands Monetary Authority and is an Accredited Director by the Chartered Secretaries of Canada. He is also a member of the American Institute of Certified Public Accountants and is an approved principal of entities registered with the National Futures Association.
Judd Kinne has 45 years of investment and capital markets experience in Asian emerging markets, having been a resident of Singapore since 1973 (and a citizen since 2009). Most of this time he worked at director- level for 3 groups: Vickers,da Costa Ltd (1976-1988); Peregrine Group (1989-1998); and Kim Eng Holdings Ltd (latterly “Maybank Kim Eng”) (1998-2014).
Martin Adams has 35 years’ investment and banking experience in emerging and developed markets including Asia (in particular Vietnam), Europe and South America. Since 2002, Martin’s professional activities have been focused on serving as an independent director to actively represent and protect shareholder interests in listed and unlisted funds and companies.