The Team

Stephen Duerden
Vu Thu Ha
Kelvin Tan
Patrick Wicik
Carolyn Lindquist

Stephen Duerden


Stephen is currently the CEO (Australia) of the Investment Manager. Stephen has over 26 years’ experience in investment management and joined the Duxton Group in May 2009.

Prior to this, Stephen was the COO and Director for both the Complex Assets Investments Team and the Singapore operation of Deutsche Asset Management Asia. Prior to this, Stephen worked with Deutsche in Australia where he was a member of the Australian Executive Committee responsible for the management of the Australian business, with assets under management of approximately A$20 billion, and a member of the Private Equity Investment Committee overseeing the management of over $2.5 billion in Private Equity and Infrastructure assets.

Stephen has had exposure to a broad range of financial products and services during his career. He has been involved in direct property development and management, the listing and administration of REITS, as well as the operation and investment of more traditional asset portfolios.

Stephen is currently a Director and Investment Committee member of a number of investment funds managed by the Duxton Group as well as holding board positions on a number of direct agricultural businesses in Australia.

Educational Qualifications: Stephen holds a Bachelor of Commerce in Accounting Finance and Systems with merit from the University of NSW Australia and a Graduate Diploma in Applied Finance and Investments from the Financial Services Institute of Australasia. Stephen is a Fellow of the Financial Services Institute of Australasia and a Certified Practicing Accountant.

Vu Thu Ha

Lead Portfolio Manager

Ha joined Duxton in January 2019 and as of December 2021, Ha has more than 8 years of listed equity experience, focusing on Vietnamese market. 

With her contribution, the Fund has outperformed the Vietnamese stock market benchmark for three continuous years, from 2019 to 2021. In 2022, the Fund has been awarded both the "Investor Choice" award and the "Top Performer" award in "Emerging Markets Equity Fund Under $100mn" category in the 2022 Investor Choice Award hosted by Allocator. This is the second consecutive year that the Fund has been awarded the Top Performer award. 

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

Ha graduated with 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.

Kelvin Tan

Portfolio Manager

Kelvin join Duxton in June 2017 as a member of Duxton's Asia Equities team. Kelvin is currently the Portfolio Manager of the Vietnam Phoenix Fund (VPF), having worked previously as a Deputy Portfolio Manager and Equity Analyst. 

Kelvin has experience in both buy and sell side, listed and unlisted investments, including the successful divestment of a $150M USD private equity portfolio based in Vietnam. Kelvin has also worked as Deputy Group CEO and Director for Straits Wine Company, a multination wine distribution company based in Singapore. 

Kelvin graduated from the National University of Singapore (NUS) with a Bachelor of Arts and Social Science (Economics) and a Diploma in Business Studies. 

Patrick Wicik

Trader / Analyst

Patrick joined Duxton in September 2019 and is currently an Equity Trader and Equity Analyst for the Vietnam Phoenix Fund.

Patrick initially joined the Duxton Water Ltd team as an analyst, working on a wide range of tasks. These tasks included researching and analysing potential investments, producing financial models, engaging with the ACCC during their Murray-Darling Basin Water Markets Inquiry, and communicating with shareholders. Prior to joining Duxton, Patrick worked as a financial analyst for a leading investor relations advisory firm, working with firms varying in market cap size, industry, and market-place recognition.

Educational Qualifications: Patrick completed a Bachelor of Engineering (Honours)(Mechanical) with a Bachelor of Finance from the University of Adelaide and was awarded the Certificate of Excellence for Principles of Macroeconomics from the University.

Carolyn Lindquist

Fund Operations Manager

Carolyn joined Duxton in March 2020 and has over 25 years’ experience in Investment Banking and Accounting.

Carolyn has worked in the London Financial Markets as a Portfolio Administrator/Dealers Assistant and latterly has experience in the Co-operative Intelligent Transport Industry. She has a broad range of exposure to portfolio valuations, accounts payable, receivable, payroll, reconciliations, systems development, sales, and project administration.

She also previously ran her own successful Property Development and Financial Administration businesses, servicing a range of clients from the Mining, Residential Development, Building, and Not-for-Profit Sectors.