Korea Fund Inc · NYSE:KF
Korea Fund — The Korea Fund — Investor Presentation (September 2020)
12 slides from Korea Fund's investor presentation, September 2020
Slide 1: The Korea Fund, Inc. Supplementary Information
Active is: Allianz Global Investors The Korea Fund, Inc. Supplementary Information September 2020 Chris Leung Senior Portfolio Manager CJ Yun Portfolio Manager Allianz Global Investors Asia Pacific Limited Value. Shared.
Slide 2: Contents
Contents Page(s) Performance and Attribution 3 Portfolio Characteristics 4 Top Holdings 7 Market Outlook 9 Portfolio Strategy 10 2
Slide 3: Performance
Performance Average Annual Returns 1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years Inception NAV 2.12% 13.35% 2.44% 12.86% -0.60% 4.88% 2.37% 10.84% NAV (before FVP)* 2.05% 14.50% 2.44% 12.98% -0.46% 4.96% — — Market Price 1.44% 14.70% -0.60% 8.36% -1.76% 4.55% 1.92% 10.08% MSCI Korea 25/50 Ind
Slide 4: Portfolio Snapshot
Portfolio Snapshot Portfolio Snapshot Portfolio Targets Portfolio Benchmark* Risk Characteristics Positions 44 107 Portfolio Benchmark Yield (%) 1.57 1.97 Beta 1.02 1.00 P/E (x) 18.96 17.50 Total volatility 24.19% 23.48% P/Book (x) 1.24 1.01 Expected tracking error 3.51% Market cap (Ave.) USD 88.6bn
Slide 5: Number of holdings
Number of holdings Total Number of Holdings (LHS) 60 50 47 48 48 48 46 45 46 43 44 41 42 41 39 40 30 20 10 0 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Total Number of Holdings (LHS) The information above is provided for illustrative purposes only to d
Slide 6: Fund NAV by market cap
Fund NAV by market cap 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Sep-17 Jun-18 Mar-19 Dec-19 Sep-20 % of NAV market cap < US$5bn % of NAV market cap > US$5bn Source: IDS, Allianz Global Investors, as at September 30, 2020 6
Slide 7: Top Holdings and Non-Benchmark Stocks
Top 10 Holdings and Non-Benchmark Stocks September 30, 2020 Top 10 Holdings Portfolio %* Top Non-Benchmark Stocks Portfolio %* Samsung Electronics Co 24.4% AfreecaTV Co Ltd 2.1% LG Chemical 6.4% Hugel Inc 1.8% Hyundai Motor Co 6.2% Seoul Viosys Co Ltd 1.7% Naver Corp 5.7% ITM Semiconductor Co Ltd 1.
Slide 8: Top Overweight / Underweight Stocks
Top 10 Overweight / Underweight Stocks September 30, 2020 Top 10 Overweighted Stocks Active % Top 10 Underweighted Stocks Active % LG Chemical 2.3% KT&G Corporation -1.2% LG Household & Healthcare 2.2% Samsung Biologics Co Ltd -0.8% AfreecaTV Co Ltd 2.1% Amorepacific Corp -0.8% Hyundai Motor Co 2.0%
Slide 9: Outlook for Korean Equities
Outlook for Korean Equities The world economy is struggling to recover from the pandemic’s impact. Number of new cases remains stubbornly high in some countries, while in others a second wave of infections has emerged. Overall Despite the uncertain economic outlook, equity markets continued to r
Slide 10: Portfolio Strategy
Portfolio Strategy Positive on technology and materials. Cautious on financials and industrials. The statements above reflect the typical investment process applied to this strategy/fund. At any given time other criteria may affect the investment process. 10
Slide 11: Disclaimer
Disclaimer Any form of publication, duplication, extraction, transmission and passing on of the contents of this material is impermissible and unauthorised. No account has been taken of any person's investment objectives, financial situation or particular needs when preparing this document. This is
Slide 12: Allianz Global Investors
Active is: Allianz Global Investors
The Korea Fund — Investor Presentation (September 2020) on 6ix