(Alliance News) - VinaCapital Vietnam Opportunity Fund Ltd on Tuesday said it will continue to publicise the long-term potential of investment in Vietnam, despite noting global downward pressure on investment management fees.
The Guernsey-registered investor in quoted and unquoted companies in Vietnam said net asset value per share edged up 0.5% to GBP5.55 at December 31 from GBP5.52 at June 30.
"Throughout much of 2023, sentiment in the Vietnamese stock market was overshadowed by liquidity problems in the real estate market," VinaCapital said.
The company said that the share price total return was 7.9% in sterling terms, compared to a negative return of 1.0% for the VN index on a total return basis.
Looking ahead, Chair Huw Evans said: "The first two months of 2024 the VN Index has risen by 9%, one of the best performing markets in the region. Against this background, the board is cautiously optimistic about the prospects for the full year to 30 June."
VinaCapital shares were 1.2% higher at 461.98 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News slot editor
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VinaCapital Vietnam Opportunity Fund (VOF)