LONDON (ShareCast) - (ShareCast News) - VinaCapital Vietnam Opportunity Fund posted its annual financial report for the year to 30 June on Friday, with total net assets at year-end of $786.54m, up from $718.66m a year earlier.
The London-listed firm - which was listed on AIM until 30 March - reported a net asset value per share of $3.77, a 15.3% increase on the $3.27 as at 30 June 2015.

Basic and diluted earnings per share were 45 cents, swinging from a loss of two cents per share at the end of the prior year, and its share price at year-end was $2.82, compared to $2.50 - a 12.8% improvement.

VinaCapital's discount to net asset value was 25.2%, compared to 23.5%.

"The company's performance in the 2016 financial year represented a substantial improvement across all investment categories compared to the lacklustre results in 2015," said chairman Steven Bates.

"We saw positive performance in each of the subcomponents of the portfolio."

Bates said Vietnam's economy was showing remarkable strength in the face of significant headwinds, with its 2015 GDP growth of 6.7% among the highest in the world.

"Despite these positive developments, we join the chorus of foreign investors who would like to see more meaningful progress on addressing the growing fiscal deficit and on accelerating the process of privatisation," he added.

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