Vision Opportunity China Fund, a closed-ended fund that invests in companies with operations principally within Greater China, has reported a 71.7 per cent rise in net asset value to USD2.09 per share for the year ended 30 September 2009.
As at 30 September 2009, the company’s NAV was USD138,649,851.
During the financial year 2009, Vision realised approximately USD34.5m of proceeds from assets purchased for approximately USD25.6m, representing a return of approximately 34.7 per cent.
Since inception in November 2007, the company has realised approximately USD46m of proceeds and approximately USD13m in realised gain, representing a return to the company’s shareholders of approximately 40.5 per cent.
The company deployed USD27m in total into five companies in 2009, bringing the company’s total deployment of capital since inception to USD73.4m across 13 companies.
Vision listed its portfolio company Lihua International on Nasdaq in September 2009, simultaneously raising USD8m.
Adam Benowitz, chief investment officer of Vision Capital Advisors, says: “Against a backdrop of challenging financial market conditions and volatility, VOC and its portfolio companies have produced impressive financial results. The strong performance emphasises the strength and quality of VOC’s investment processes and together with an improving economic outlook, we are well positioned to continue to deliver growth in 2010.”
