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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Haegin who wrote (796)	1/14/1998 12:21:00 AM
From: George Papadopoulos	Read Replies (1) \| Respond to of 9980

Mobius and Vietnam Basically Mobius has given up on Vietnam as far as having a mutual fund devoted to it. Too many broken promises by the Vietnamese to create a stock market and institute some meaningful reforms. Traditionally TVF has been 40-55% in cash. Lately Mobius had to sink some money in some direct investments in Vietnam (scary---->direct investments in Vietnam, wonder what kind of Due Diligence he did on them!) in order to show that he is making progress on having the fund invest at least the required 65% of its assets in the country by late 1997. Even with the direct investments he was waaaaaaay off the mark. So now there is a vote to liquidate the fund or continue it under a different name and objective (basically Southeast Asia and Vietnam). I won't get to vote...gave up too. For the record, Mobius is one of the managers I really believe in. My son's college education fund is in his hands through the closed end Templeton China Fund (which is having a sale these days). O Vietnam, he simply blew it, along with other investors who lost money (thank God it was only 200 shares for me). I still have faith in him.