Press Release: The Korea Fund, Inc. Reports Results for the Fiscal Quarter and Twelve Months Ended June 30, 2020
The Korea Fund, Inc. Reports Results for the Fiscal Quarter and Twelve Months Ended June 30, 2020
NEW YORK--(BUSINESS WIRE)--August 28, 2020--
The Korea Fund, Inc. (the "Fund") (NYSE: KF), a non-diversified, closed-end investment company, which seeks long-term capital appreciation through investment in securities, primarily equity securities of Korean companies, today announced its results for the fiscal quarter and twelve months ended June 30, 2020.
At June 30, ----------------------------------- 2020 2019 ------------ ------------
Net Assets $156,745,019 $168,092,503
Shares Outstanding 5,040,949 (a) 5,128,007
Net Asset Value ("NAV") $31.09 $32.78
Market Price $25.85 $28.84
Discount to NAV (16.85)% (12.02)% Quarter ended June 30, ----------------------------------- 2020 2019 ------------ ------------
Net Investment Loss $(121,702) $(131,809)
Per Share (b) $(0.02) $(0.03)
Net Realized and Change in Unrealized Gain (Loss) $27,231,796 $(4,843,246)
Per Share $5.39 $(0.93) Year ended June 30, ----------------------------------- 2020 2019 ------------ ------------
Net Investment Income $816,176 $1,175,587
Per Share (b) $0.16 $0.22
Net Realized and Change in Unrealized Loss $(9,392,851) $(25,537,550)
Per Share $(1.85) $(4.76)
(a) Under its share repurchase program, the Fund repurchased 0 shares and 87,058 shares, respectively for the fiscal quarter and twelve months ended June 30, 2020.
(b) Calculated on average common shares outstanding during the year.
Allianz Global Investors U.S. LLC is the Fund's investment manager. Investment in closed-end funds involves risks. Additional risks are associated with international investing, such as currency fluctuation, government regulations, economic changes and differences in liquidity, which may increase the volatility of an investment in the Fund. Foreign securities markets generally exhibit greater price volatility and are less liquid than the U.S. market. Additionally, this Fund focuses its investments in certain geographical regions, thereby increasing its vulnerability to developments in that region. All of these factors potentially subject the Fund's shares to greater price volatility. The NAV of the Fund will fluctuate with the value of the underlying securities. Closed-end funds trade on their market value, not NAV, and closed-end funds often trade at a discount to their NAV.
The Fund's daily New York Stock Exchange closing market price and NAV, as well as other information, including updated portfolio statistics and performance are available at www.thekoreafund.com or by calling the Fund's stockholder servicing agent at (800) 254-5197.
The financial information contained herein is solely based upon the data available at the time of publication of this press release, and there is no assurance that any future results will be the same or similar to what is reported herein. Information that was obtained from third party sources we believe to be reliable is not guaranteed as to its accuracy or completeness. This press release contains no recommendations to buy or sell any specific securities and should not be considered investment advice of any kind. Past performance is no guarantee of future results and the investment returns generated by the Fund will fluctuate. There can be no assurance the Fund will meet its stated objective. There is no assurance that the market price of the Fund's shares, either absolutely or relative to NAV, will increase as a result of any share repurchases. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200828005253/en/
CONTACT: The Korea Fund, Inc.
Financial Advisors: (800) 926-4456
Shareholders: (800) 254-5197
Media Relations: (212) 739-3172
(END) Dow Jones Newswires
August 28, 2020 16:05 ET (20:05 GMT)
新聞稿:韓國基金公司報告截至2020年6月30的財政季度和12個月的結果
韓國基金公司報告截至2020年6月30的財政季度和12個月的結果
紐約--(美國商業新聞網)--2020年8月28日--
韓國基金公司非多元化封閉式投資公司(“基金”)(紐約證券交易所代碼:KF)今天公佈了截至2020年6月30日的財政季度和12個月的業績。該公司通過投資證券(主要是韓國公司的股權證券)尋求長期資本增值。
6月30日-2020 2019年
淨資產156,745,019美元168,092,503美元
未償還股份5,040,949(A)5,128,007
資產淨值(“資產淨值”)$31.09$32.78
市價$25.85$28.84
截至6月30日的季度資產淨值折扣率(16.85)%(12.02)%-2020 2019年
投資淨虧損$(121,702)$(131,809)
每股(B)$(0.02)$(0.03)
已實現淨額和未實現收益(虧損)變動27,231,796美元(4,843,246)
每股$5.39$(0.93)截至6月30日的年度-2020 2019年
投資淨收益$816,176$1,175,587
每股(B)$0.16$0.22
已實現淨額和未實現虧損變動$(9392851)$(25537550)
每股$(1.85)$(4.76)
(A)根據其股份回購計劃,基金在截至2020年6月30日的財政季度和12個月分別回購了0股和87,058股。
(B)按年內平均已發行普通股計算。
安聯全球投資者美國有限責任公司(Allianz Global Investors U.S.LLC)是該基金的投資經理。投資封閉式基金涉及風險。其他風險與國際投資有關,如貨幣波動、政府法規、經濟變化和流動性差異,這可能會增加基金投資的波動性。與美國市場相比,外國證券市場通常表現出更大的價格波動性和更低的流動性。此外,該基金將其投資重點放在某些地理區域,從而增加了其易受該區域事態發展影響的脆弱性。所有這些因素都可能使基金的股票面臨更大的價格波動。基金的資產淨值將隨標的證券的價值而波動。封閉式基金的交易依據是其市值,而不是資產淨值,而封閉式基金的交易價格往往低於其資產淨值。
基金每日紐約證券交易所收盤價和資產淨值,以及其他信息,包括最新的投資組合統計數據和業績,可在www.thekoreafund.com上查閲,或致電基金股東服務代理,電話:(800)254-5197。
本文中包含的財務信息僅基於本新聞稿發佈時可獲得的數據,不能保證未來的任何結果將與本文報道的結果相同或相似。我們不保證從我們認為可靠的第三方來源獲得的信息的準確性或完整性。本新聞稿不包含買賣任何特定證券的建議,也不應被視為任何類型的投資建議。過去的表現不能保證未來的結果,基金產生的投資回報將會波動。不能保證該基金將達到其規定的目標。不能保證基金股票的市場價格,無論是絕對的還是相對於資產淨值的,都會因任何股票回購而上升。在作出任何投資決定時,個人應利用其他資料來源,並徵詢本身專業顧問的意見。
在business wire.com上查看源代碼版本:https://www.businesswire.com/news/home/20200828005253/en/
聯繫人:韓國基金公司
財務顧問:(800)926-4456
股東:(800)254-5197
媒體關係部:(212)739-3172
(完)道瓊斯通訊社
2020年8月28日美國東部時間16:05(格林尼治標準時間20:05)