The Team

Stephen Duerden
James Shopov
Will Brennan
Vu Thu Ha
Carolyn Lindquist

Stephen Duerden

Non-Executive Director

Stephen is a founding partner of the Duxton Group and held the position of CEO for over 17 years since Duxton’s inception in 2009. Stephen has more than 30 years of investment management experience across Australia and Asia, with expertise in agriculture, infrastructure, and hospitality. He has held significant regional leadership roles, including Chief Operating Officer for Deutsche Asset Management Asia.

Stephen has a strong background in financial governance, capital raisings, and ASX listings, supported by an extensive 20-year board track record across public, private, and not-for-profit organisations.

He is an FCPA and MAICD, holds a Bachelor of Commerce from UNSW, and currently serves as a Non-Executive Director and strategic business adviser.

James Shopov

Chief Executive Officer

James is the Chief Executive Officer of Duxton Capital Australia. Since joining Duxton in 2016, James has been responsible for deal origination, capital raising, strategy & risk management, having worked for Duxton in both Singapore and Adelaide. James has also held a number of directorships on investee companies during his tenure.

Prior to joining Duxton, James worked in Corporate Finance and Assurance & Advisory at EY and Deloitte.

James is a Graduate of the Australian Institute of Company Directors (GAICD), member of the Institute of Chartered Accountants Australia and New Zealand (CAANZ) and holds a Commerce (Corporate Finance and Accounting) degree from the University of Adelaide.

Will Brennan

Chief Investment Officer

Will has been a part of the Duxton investment team for over a decade, having joined the business in 2015. In his role as CIO he is responsible for oversight of the investment team, along with all aspects of the investment process from deal origination through to exit.

During his tenure, Will has held senior roles in a number of public and private market investments, including as a Director of ACE Dairies, Merriment Rural Investments and Wyalong Rural Investments prior to realisation of these investments.

Will holds a Bachelor of Laws and a Bachelor of Commerce (Accounting) from the University of Adelaide, is a Chartered Financial Analyst (CFA) Charterholder, and a Graduate of the Australian Institute of Company Directors (GAICD).

Vu Thu Ha

Lead Portfolio Manager

Ha joined Duxton in January 2019 and has more than 12 years of listed equity experience, focusing on the Vietnamese market.

With her contribution, the Fund outperformed the Vietnamese stock market benchmark for three continuous years, from 2019 to 2021. The Fund received the Investor Choice and Top Performer awards in the Emerging Markets Equity Fund Under $100m category in the 2022 Investor Choice Awards hosted by Allocator. This was the second consecutive year that the Fund had been recognised with the Top Performer award.

Prior to joining Duxton, Ha was with Ho Chi Minh City Securities based in Vietnam, where she covered the Power, Transportation, Logistic and Textile sectors from 2016 to 2018 as a sell-side research equity analyst. Previously, she worked with BIDV Securities Corporation, where she held equity research responsibilities for the Oil & Gas, Transportation, Utility, Chemical, Automobiles and Financial sectors in Vietnam.

Ha holds a Master’s degree in Financial Analysis from Latrobe University Australia, and a Bachelor’s degree in Finance and Banking from Vietnam’s Banking Academy.

Carolyn Lindquist

Fund Operations Manager

Carolyn joined Duxton’s Operations Team in 2020. Carolyn was instrumental in the transition of the Global Equities Operations Department in Singapore to Duxton’s Head office in Adelaide, working closely with investors and key stakeholders. In 2022 Carolyn’s role was expanded to Manager – Fund Operations, overseeing the implementation of new products and daily operations.

She has over 25 years’ experience in Investment Banking and Accounting. Carolyn has worked in the London Financial Markets as a Portfolio Administrator and Dealers Assistant. She has a broad range of exposure to portfolio valuations, operational procedures, investment vehicles and fund documentation.