Korea Fund Inc · NYSE:KF
Korea Fund — Proxy Contest (March 2007)
11 slides from Korea Fund's proxy contest presentation, Mar 14, 2007
Slide 1: The Korea Fund Inc Proxy Solicitation, April 2007
The Korea Fund Inc Proxy Solicitation, April 2007
Slide 2: Background & Manager Identification Process
Background & Manager Identification Process Oct 05 Investment Committee Formed & Mercer Investment Consultants engaged Sep 06 Detailed report commissioned on DeAM leading to an Initial report covering 19 Managers of Korean equities Oct 06 ‘Manager Long List’ researched & evaluated on Mercer’s qualit
Slide 3: RCM
RCM · Founded in 1970: offices in San Francisco, London, Frankfurt, Hong Kong, Tokyo & Sydney · Member of Allianz Global Investors but operating as an independent meritocracy managing US$128.2bn including US$8.8bn from HK · Over 200 investment professionals including 52 career analysts supported by
Slide 4: RCM in Asia
RCM IN ASIA · 23 years Asian experience: based in HK, Tokyo & Sydney · 41 investment professionals including 26 analysts & Grassroots SM research · AUM US$12 bn · AGI Korea office AUM US$9bn. With 15 investment professionals Korea Fund Proxy Solicitation April 2007
Slide 5: RCM Korean Resources
RCM Korean Resources Korean investment team based in Hong Kong consisting: CIO Chief Portfolio Manager Portfolio Manager Korean Analyst — domestic sectors Regional Analyst — regional small cap. & 5 regional sector analysts Grassroots Analysts AGI Korea Team Investment Style grounded in bottom-up so
Slide 6: Why RCM?
Why RCM? Your board’s in depth analysis identified ROM’s: 1. Idea Generation: deep, sector focussed, proprietary research at both ‘top down’ and ‘bottom up’ levels 2. Portfolio Construction: driven by a strong research conviction, portfolios tend to be concentrated in some 35-45 stocks 3. Implementa
Slide 7: RCM's Team
RCM’s Team · Dr Mark Konyn CEO Asia Pacific · Raymond Chan CFA CIO Asia Pacific Head of Investment Process and Performance. · Matthew Lee Senior Portfolio Manager 20 years experience pan Asia with Schroders, Credit Suisse & AXA. • Brian Shlissel Head of Administration at AGI NY • Christoph Hofmann H
Slide 8: Historic Performance
Historic Performance RCM seeks to consistently deliver superior investment results using its innovative and proprietary fundamental and Grassroots research RCM’s Asian office has provided historically successful results Excess Return over the KOSPI 5 vears to Den 31 2006 (Rank”! RCM Korean Equity* 3
Slide 9: Investment Management Summary
Investment Management Summary 1. Impressive & focussed research 2. Concentrated portfolio construction methodology, driven by research 3. Risk management separate from the PM 4. Strong and expanding Asian presence 5. A boutique asset management culture under the strong Allianz umbrella 6. Historical
Slide 10: Stock Dividend Proposal
Stock Dividend Proposal · Investment Manager clearly hampered by the very high proportion of capital gains · Cash pay backs induce the ‘Cascade’ affect · Stock dividends are appropriate for both institutional and retail stockholders if combined with a cash alternative Korea Fund Proxy Solicitation A
Slide 11: Contact Details
Contact Details Julian Reid Non Executive Chairman The Korea Fund Inc (NYSE: “KF”) Tel: +44 20 7233 1333 Cell: +44 7768 068 200 Email: julianred@btopenworld.com marketwjisperer@gmail.com Korea Fund Proxy Solicitation April 2007