27th Mar 2020 14:36
(Alliance News) - VinaCapital Vietnam Opportunity Fund Ltd on Friday said its net asset value declined by 6.2% in the first half of its current financial year.
The investment company said NAV per share as at December 31 stood at GBP3.81 compared to GBP4.06 recorded at the end of June 2019.
The share price at the end of 2019 stood at 336 pence per share, representing a 12% discount to NAV.
VinaCapital shares were trading 1.8% lower in London on Friday at 238.07p each.
Over the six months to the end of December 2019, the company said it has deployed USD25.7 million into two new private equity investments.
The company said 2019 was another strong year for Vietnam's economy, characterised by high and sustainable gross domestic product growth and a stable macro-economy.
However, the company said Covid-19 outbreak in January immediately hurt tourism, hospitality and associated services in the country.
Looking ahead, VinaCapital said it plans to deploy between USD100 and USD120 million into four to six private equity deals in the next twelve months, subject to market conditions. The company also said it hopes in 2020 to make a first investment into a recycling business.
"Despite the likelihood that global uncertainty will continue through 2020, we remain hopeful and expect that markets will respond positively once this global health crisis eventually abates," said Investment Officer & Managing Director Andy Ho.
By Evelina Grecenko; [email protected]
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