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VinaCapital Vietnam Opportunity Fund Ltd on Tuesday reported a swing to loss in financial 2022, due to volatile equity markets.
As at June 30, the UK-based and Vietnam-focused investment fund's net asset value per share stood at $7.22, down 11% year-on-year from $8.07. For the year ended June 30, VinaCapital's net asset value return was negative 8.8%. This compares to a return of 66% last year.
The firm swung to a pretax loss of $121.4 million from a profit of $540.8 million in the previous year.
Looking ahead, VinaCapital said that while volatility in equity markets driven by investor sentiment was "inevitable", it expects the "resilient" performance of the Vietnamese economy to continue for the foreseeable future.
"VinaCapital's approach to investment with its emphasis on growing investors' capital with strong risk mitigation will continue to deliver attractive returns over the long term," said Chair Huw Evans.
VinaCapital declared a total dividend of 16.0 US cents per share, up from 11.5c a year before.
VinaCapital shares closed 0.8% higher at 426.00 pence per share in London on Tuesday afternoon.
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