VR Capital Asks Dragon to Close Funds as Returns Lag
Tuesday, July 6, 2010 : PermalinkBloomberg – Dragon Capital Group Ltd., Vietnam’s second-biggest investment firm, has been asked by a shareholder to close two funds valued at $654 million because of “very poor performance.”
VR Capital Group Ltd., a Moscow-based hedge fund, on June 17 wrote to shareholders in Dragon Capital’s Vietnam Enterprise Investments Ltd. calling for the fund to be liquidated at its annual general meeting next week. The fund is closed-end, which means that new shares are rarely issued after the fund is established and investors are locked in until it closes.
