The £110m Weiss Korea Opportunity fund board has announced it will undergo a strategic review of the investment trust’s future, after its investment manager expressed concern over the trust’s future prospects while it remains in its current form.
In a stock exchange announcement this morning (4 November), the board said that it had been notified by investment manager Weiss Asset Management that it believes the opportunity set for the fund continuing in its current form is “less attractive than it has been in the past”, and that it does not think it is likely to improve in the foreseeable future.
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In response, the board has launched a strategic review to consider the future of the company.
The trust, which invests primarily in listed South Korean companies, was first launched in 2013.
According to the Association of Investment Companies, the trust currently trades at a 1.36% premium to its net asset value.
