1st Oct 2019 14:44
(Alliance News) - Africa Opportunity Fund Ltd on Monday said net asset value rose slightly in the first six months of 2019 "in an underwhelming half year".
The investor's NAV per share as at June 30 was USD0.689, up a fractional 2.1% from USD0.675
African Opportunity said it "turned in an underwhelming half year" as the market capitalisation of Enterprise Group fell 14%, almost overwhelming any positives from the rest of the firm's natural resources portfolio.
African Opportunity has begun to realise its holdings, though said the "long-term investment appeal of Africa remains intact".
Shares in Africa Opportunity were untraded at USD0.56 on Tuesday afternoon in London.
By Anna Farley; [email protected]
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