AOF NAV 31 AUG 2017 ANNOUNCEMENT

06 September 2017

 Africa Opportunity Fund Limited (“AOF”)

 Net Asset Value and Portfolio Allocation Update

 Net Asset Value

Africa Opportunity Fund Limited (SFS: AOF) announces that as at close of business on 31 August 2017, its unaudited net asset value per Ordinary share was US$0.955.

Portfolio allocation update

Following the C share conversion as announced on 21 August 2017, the Company provides the following update in relation to its portfolio allocation as at 31 August 2017.

Portfolio allocation as at 31 August 2017

Total NAV: $71,454,408
Total Shares Outstanding: 74,849,606
NAV/Share: 0.955

Geographic and Sectoral Allocation

Africa Opportunity Fund
Geographic Exposure
Sector % of Sec holdings
Zambia 8.5%
Ghana 37.4%
Senegal 15.4%
Other 3.9%
Nigeria 5.0%
Cote D’Ivoire 2.9%
Morocco 1.0%
Zimbabwe 9.2%
Egypt 2.8%
Kenya 3.2%
Botswana 2.8%
Tanzania 2.1%
South Africa 3.0%
Uganda 2.8%
Total 100.0%

 

Africa Opportunity Fund
Sectoral Exposure
Sector % of Sec holdings
Telecommunications 12.4%
Financial Services 35.0%
Consumer Finance 3.5%
Utilities 12.2%
Oil Exploration & Production 5.3%
Consumer Products & Services -0.9%
Plantations 5.5%
Mining Industry 11.0%
Real Estate 7.3%
Materials 1.3%
Beverages 2.1%
Other 5.3%
Total 100.0%

Geographic and sectoral allocation takes the sum of positions in a particular category as a percentage of total security holdings.

Top 10 Consolidated Positions

 

Top Ten Holdings – AOF

Description % of NAV on 31 Aug 2017 % of NAV on 30 June 2017
Enterprise Group Ghanaian property & casualty insurance and life assurance company 24.2% 13.6%
Sonatel Dominant Senegalese and regional integrated telecommunication operator 10.1% 11.7%
Copperbelt Energy Corp Leading electricity distributor in the Zambian Copperbelt 7.5% 8.8%
Tizirr 9.0% 28 Sep 2017 1st priority bond backed by Grande Cote mineral sands project in Senegal 4.2% 4.7%
Anglogold Ashanti Gold mining company operating in 11 countries 4.2% 4.1%
Standard Chartered Bank Leading commercial bank in Ghana 4.0% 3.4%
Mashonaland Holdings Zimbabwean real estate company 3.6% 3.9%
Continental Reinsurance Leading Pan-African reinsurer based in Nigeria 3.5% 3.3%
Pearl Properties Zimbabwean real estate company 3.2% 3.2%
Kenya Power & Lighting Ltd Leading electricity distributor in Kenya 3.0% 2.5%
Total 67.5% 59.2%

 

For further information please contact:

Africa Opportunity Fund Limited

Francis Daniels                                                           Tel: +2711 684 1528

Liberum (Corporate Broker)

Andrew Davis
Henry Freeman/Rob Johnson                                     Tel: +44 20 3100 2000

For more information about AOF, see www.africaopportunityfund.com

Prior to its release, this announcement contained inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

 

 

 

 

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