28th Aug 2015 15:29
LONDON (Alliance News) - Africa Opportunity Fund Ltd on Friday reported falls in net asset value for its share classes in the first half.
Its NAV per ordinary share was USD0.923 at the end of June, down from USD1.011 six months earlier.
Its C share NAV per share was USD0.863 at the end of June from USD0.912 six months earlier.
"There are excellent long and short opportunities to be found as African markets adjust to the down draft of weak commodity prices and volatility stalks those markets. Despite the difficult period experienced by the portfolio during the first half of 2015, we are excited by these attractive valuation metrics and remain optimistic about AOF's prospects," the company said.
The stock was up 0.4% at USD0.780 Friday.
By Samuel Agini; [email protected]; @samuelagini
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