28th Sep 2020 17:29
Africa Opportunity Fund Ltd - closed-end investment company - Reports net asset value per share of USD0.550 at June 30, down from USD0.638 at the end of December. Total return in first half of 2020 minus 7%. Three Africa-focused exchange traded funds - the Lyxor ETF, the DBX MSCI Africa Top 50, and Van Eck Africa Index - fell, respectively, 12%, 26%, and 19%. "The Fund is in the process of realizing its holdings. Two distributions were made during H1 2020 in the form of compulsory share redemptions worth a total of USD24 million. The portfolio is now comprised of less liquid holdings and we are looking to the next 1-2 years to effectuate a realizing of the remaining portfolio," Africa Opportunity says. At August 31, NAV per share stood at USD0.544.
Current share price: USD0.49
Year-to-date change: down 13%
By Lucy Heming;Â [email protected]
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