StockMarketWire.com - South Korean stock picker Weiss Korea Opportunity Fund posted a positive first-half performance that beat its benchmark.

The company's net asset value per share total return for the six months through June was 11.3%.

That compared to a 1.7% fall in the MSCI Korea 25/50 Net Total Return Index in pounds.

Chairman Norman Crighton said the company considered buying back shares on numerous occasions during the period when the discount to NAV appeared to be wide.

'However, the Korean stock market was so volatile that it was very difficult to ensure that the discount quoted was achievable when realising part of the portfolio to fund buybacks,' he said.

'Compared to many, the Korean government and people have done a good job of containing the virus,' Crighton said.

'However, South Korea entered a technical recession at the end of the second quarter and cluster-based virus outbreaks continue to emerge.'

'Until a vaccine is found, and is effectively distributed, we anticipate continued Covid-19 disruption to the South Korean economy and financial markets.'


At 9:36am: [LON:WKOF] Weiss Korea Opportunity Fund share price was 0p at 185p



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