IN BRIEF: Weiss Korea underperforms benchmark in first half
Weiss Korea Opportunity Fund Ltd - South Korea-focused investor in preference shares - Reports a net asset value of GBP1.72 per share as at June 30, down from GBP1.83 as at December 31. NAV total return is negative 3.4%, underperforming against its benchmark, which has a total return of positive 6.7% over the six month period. Notes persistent high core consumer prices index inflation in South Korea and "significant" household debt. "While year-on-year CPI increases moderated to 2.7% in June 2023 from a high of 6.3% in July 2022, core CPI increases remained in the 4% range in June 2023 from a high of 5% in January 2023," Weiss Korea emphasised. Highlights that it is not a macro fund, with the information offered to help characterise its performance relative to a market in which it is the most active. Read More