Please note that the submission deadline for the Q2 2015 redemption is 1 May 2015.
To redeem shares of Vietnam Equity Holding, please download and fill out the form in its entirety and forward to Euroclear or Clearstream for final submission to Deutsche Bank (Cayman) Ltd.
Procedure for Redemption and Accompanying Redemption Form:
1) To submit a request for redemption, please fill out the accompanying Redemption Notice.
2) There shall be one instruction per individual Shareholder (a Shareholder is defined as the final owner of the shares, the client of the brokerage or custodian bank, not the bank or brokerage itself). The Fund will not ask for the Shareholder name, but for accounting purposes, the Fund must have a number relating to each Shareholder in order to redeem the correct shares and distribute the correct final cash amount to each Shareholder.
3) Please ask your bank to instruct the Registered Shareholder (usually Euroclear/Clearstream) to submit to Deutsche Bank for verification.
4) Settlement will occur within thirty (30) calendar days of the Redemption Day; Deutsche Bank will send confirmations of the settlements to Shareholders that have requested redemption.
A Redemption Notice, once given, may be withdrawn by the relevant Shareholder with written notice of at least one (1) Business Day prior to the Redemption Day to which the Redemption Notice relates.
A Shareholder may generally request the redemption of all or some of its Shares on a Redemption Day.
1) Redemptions occur quarterly.
2) 15% of the issued and outstanding shares of the Fund are available for redemption at the end of each quarter. The Directors shall scale down, on a pro-rata basis, each redemption request with respect to each Redemption Day so that only certain percentages of the Outstanding Shares are redeemed on the relevant Redemption Day.
3) Each redemption request shall be treated, with respect to the unsatisfied balance thereof, as having been cancelled. A new and separate Redemption Notice in respect of such unsatisfied balance will be required to be submitted to the Fund for a subsequent Redemption Day.
4) Redemptions of Shares will be subject to a redemption fee payable to the Fund equal to 3% of the NAV of the redeemed Shares (the “Redemption Fee”). The Fund shall allocate two thirds (2% of the NAV of the redeemed Shares) of the Redemption Fee to the Fund’s general portfolio for the benefit of the Fund and accordingly such amount will be added to the overall NAV of the Fund, and one third (1% of the NAV of the redeemed Shares) of the Redemption Fee shall be allocated to a reserve established by the Fund and accordingly will not be added to the overall NAV of the Fund. This reserve is to be used for the legal, accounting and costs of the future winding up of the Fund. When the Directors determine that this reserve has reached a reasonable amount sufficient to cover the estimated costs of winding up the Fund, they will, in their sole discretion, waive the reserve fund portion of the Redemption Fee for future redemptions. Redemptions will however remain subject to a 2.0% Redemption Fee which shall be applied to the Fund’s general portfolio for the benefit of the overall NAV of the Fund and shall accrue to the benefit of the Fund.
For further information regarding the redemption process, please contact us at IR@saigonam.com.