Korea Fund Inc · NYSE:KF
Korea Fund — The Korea Fund — Investor Presentation (August 2015)
11 slides from Korea Fund's investor presentation, August 2015
Slide 1: The Korea Fund, Inc. Supplementary Information
The Korea Fund, Inc. Supplementary Information Chris Leung Senior Portfolio Manager August 2015 AGI-2015-09-09-13207 Understand. Act.
Slide 2: Contents
Contents Page(s) Performance 3 Portfolio Characteristics 4 Top Holdings 7 Market Outlook 9 Portfolio Strategy 10 © Allianz Global Investors 2015 2
Slide 3: Performance
Performance NAV (before FVP)* -2.12% 0.13% 7.84% -5.28% — — — — NAV (before FVP)* — — — — — — 1.62% -9.13% Data as at June 30, 2015 * FVP stands for Fair Value Pricing, available since July 1, 2012. 3 © Allianz Global Investors 2015 3
Slide 4: Portfolio Snapshot
Portfolio Snapshot Portfolio Snapshot Portfolio Targets Portfolio Benchmark* Risk Characteristics Positions 29 108 Portfolio Benchmark Yield (Wtd. Avg. Dividend Yield %) 1.22 1.42 Beta*** 0.88 1.00 P/E (x)* 13.82 14.02 Total volatility**** 15.93% 16.79% P/Book (x)** 1.52 0.98 Expected tracking error
Slide 5: Number of holdings
Number of holdings Total Number of Holdings (LHS) 45 41 40 40 40 40 39 35 33 30 30 30 29 29 29 29 25 20 15 10 5 0 Sep‐12 Dec‐12 Mar‐13 Jun‐13 Sep‐13 Dec‐13 Mar‐14 Jun‐14 Sep‐14 Dec‐14 Mar‐15 Jun‐15 Total Number of Holdings (LHS) The information above is provided for illustrative purposes only to dem
Slide 6: Fund NAV by market cap
Fund NAV by market cap 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 % of NAV market cap < US$5bn % of NAV market cap > US$5bn Source: IDS, Allianz Global Investors, as at June 30, 2015 © Allianz Global
Slide 7: Top Holdings and Non-Benchmark Stocks
Top 10 Holdings and Non-Benchmark Stocks June 30, 2015 Top 10 Holdings Portfolio %* Top Non-Benchmark Stocks Portfolio %* Samsung Electronics Co 18.1% Interpark Corporation 2.4% Hyundai Development Co 9.3% Hanil Cement Co 1.8% Sk Hynix Inc 8.7% Interpark Holdings Corp 1.7% Hanssem Co 6.7% Sungshin C
Slide 8: Top Overweight / Underweight Stocks
Top 10 Overweight / Underweight Stocks June 30, 2015 Top 10 Overweighted Stocks Active % Top 10 Underweighted Stocks Active % Hyundai Development Co 8.8% Samsung Electronics Co -7.0% Hanssem Co 6.3% Posco -2.4% Sk Hynix Inc 4.8% Amorepacific Corp -2.4% Coway Co Ltd 4.1% Hyundai Mobis -2.3% Korea Aer
Slide 9: Outlook for Korean Equities
Outlook for Korean Equities • Housing market transaction volume is rising at a faster pace and prices continue to trend upward • The outbreak of Middle East Respiratory Syndrome in June hurt consumption but the impact should Overall prove temporary • Small-mid cap growth stocks command high valuatio
Slide 10: Portfolio Strategy
Portfolio Strategy Positive on housing, tourism, and semiconductor sectors Cautious on auto and materials Neutral on financials The statements above reflect the typical investment process applied to this strategy/fund. At any given time other criteria may affect the investment process. © Allia
Slide 11: Important Information
Important Information Some of the information contained herein including any expression of opinion or forecast has been obtained from or is based on sources believed by us to be reliable, but is not guaranteed and we do not warrant nor do we accept liability as to adequacy, accuracy, reliability or