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Anpha Capital seeks local cash   2007-12-31 - thanhniennews

Anpha Capital Management Co. is seeking local investors to jointly set up two domestic mutual funds to invest in equity and real estate in Vietnam.

Anpha Capital Equity (ACE) and Anpha Capital Property (ACP) funds will have as many as ten founding members, with each member contributing at least VND8 billion (US$500,000), Anpha Capital president Bui Cong Giang said.

The two funds will open with combined capital of VND200 billion ($12.5 million).

Funds with less than 30 members are a new phenomenon in Vietnam, Giang said.

The funds do not require licenses from local authorities, instead they inform the authorities of their operations, he said.

Giang said the two funds will target sectors of Vietnam’s economy where foreign-raised funds are shut out by government regulations or restrictions.

Six local investors, including banks, real estate developers and a port operator, Friday signed an agreement to join the funds, contributing nearly 50 percent of the initial capital.

Anpha Capital Management Capital, formerly known as Lion Capital belongs, to Cayman Island-based Anpha Capital Group.

The company is assigned to manage two Frankfurt-listed funds, Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), with combined capital of $125 million from foreign investors.


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