VinaCapital Vietnam Opportunity Fund net losses rise
By BFN News | 03:51 PM | Thursday 29 March, 2012
VinaCapital Vietnam Opportunity Fund posts net losses of $42.3m for the six months to the end of December compared with a loss of $18.7m last time.
The net loss per share rose to $0.13 - up from $0.06 a year ago.
Managing director of VOF's investment manager, Andy Ho, said: "Vietnam is at an economic inflexion point.
"A number of government monetary measures have slowed credit growth and begun to address inflation and currency depreciation.
"GDP growth ended the year at 5.9%, but the domestic real estate market continues to see challenging conditions.
"Despite this, VOF's hospitality assets have performed well throughout 2011 on the back of strong tourist demand and overall we continue to expect Vietnam to offer a strong investment environment for both acquisitions and disposal in the short to medium term."
At 3:51pm: (LON:VOF) Vietnam Opportunity Fund share price was 0p at 1.55p
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