29th Mar 2021 14:20
VinaCapital Vietnam Opportunity Fund Ltd - investment company - For the six months ended December 31, net asset value total return was 28%, still underperforming against the VN Index, which returned 36.2%.
As at December 31, net asset value per share stood at GBP4.61, up 15% from GBP4.01 recorded at the end of June 2020.
VinaCapital's share price at the end of 2020 is 425.00 pence each, reflecting a 7.9% discount to NAV.
"The fact that Vietnam has relied on isolation rather than access to vaccines as a way to deal with the pandemic may be an issue in due course but, as we have experienced so far, any problems may continue to be confined to sectors reliant on international travel. We expect that the domestic economy and, critically, exporters will continue to operate effectively within the restrictions," said Chair Steven Bates.
"Our investment manager is cautiously optimistic for 2021 and the portfolio does appear to be well positioned with the listed shares at a more attractive valuation than the market in general, the private equity holdings generally performing well and a strong pipeline of potential new investments," Bates added.
Current stock price: 413.00 pence
Year-to-date change: down 2.8%
By Dayo Laniyan; [email protected]
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VinaCapital Vietnam Opportunity Fund