Mr. Don Lam has resigned as Non-executive Director of the Vietnam Opportunity Fund (VOF).
The Board of Directors of the VinaCapital Vietnam Opportunity Fund Limited (VOF), the AIM-quoted investment vehicle investing in Vietnam, last week announced that Mr. Don Lam has stepped down as Non-executive Director.
Mr. Lam has served on the Board since VOF’s inception in 2003. There is no change, however, in his role as CEO of VinaCapital Group and his leadership in the day-to-day investment activities of VinaCapital-managed funds.
Commenting on the change, Mr. Steven Bates, Chairman of VOF, said: “The Board would like to express its sincere gratitude to Mr. Lam for his significant contributions to the VOF over the years. He has served VOF admirably, with his tenure reaching back to the AIM admission of VOF with gross assets of $10 million in 2003.”
Mr. Lam’s decision to resign from the Board is widely seen as a commitment to strengthen the Board’s independence from the investment manager. His departure will leave the Board comprised solely of independent members.
Founded in 2013, VinaCapital is the leading investment management and real estate development firm in Vietnam, with a diversified portfolio of $1.5 billion in assets under management. VinaCapital manages three closed-end funds trading on the AIM Market of the London Stock Exchange: VinaCapital Vietnam Opportunity Fund Limited (VOF), VinaLand Limited (VNL), and Vietnam Infrastructure Limited (VNI). It also co-manages the $32 million DFJ VinaCapital L.P. technology venture capital fund with Draper Fisher Jurvetson.