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)
新闻稿:韩国基金公司报告截至2020年6月30的财政季度和12个月的结果
韩国基金公司报告截至2020年6月30的财政季度和12个月的结果
纽约--(美国商业新闻网)--2020年8月28日--
韩国基金公司非多元化封闭式投资公司(“基金”)(纽约证券交易所代码:KF)今天公布了截至2020年6月30日的财政季度和12个月的业绩。该公司通过投资证券(主要是韩国公司的股权证券)寻求长期资本增值。
6月30日-2020 2019年
净资产156,745,019美元168,092,503美元
未偿还股份5,040,949(A)5,128,007
资产净值(“资产净值”)$31.09$32.78
市价$25.85$28.84
截至6月30日的季度资产净值折扣率(16.85)%(12.02)%-2020 2019年
投资净亏损$(121,702)$(131,809)
每股(B)$(0.02)$(0.03)
已实现净额和未实现收益(亏损)变动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
投资净收益$816,176$1,175,587
每股(B)$0.16$0.22
已实现净额和未实现亏损变动$(9392851)$(25537550)
每股$(1.85)$(4.76)
(A)根据其股份回购计划,基金在截至2020年6月30日的财政季度和12个月分别回购了0股和87,058股。
(B)按年内平均已发行普通股计算。
安联全球投资者美国有限责任公司(Allianz Global Investors U.S.LLC)是该基金的投资经理。投资封闭式基金涉及风险。其他风险与国际投资有关,如货币波动、政府法规、经济变化和流动性差异,这可能会增加基金投资的波动性。与美国市场相比,外国证券市场通常表现出更大的价格波动性和更低的流动性。此外,该基金将其投资重点放在某些地理区域,从而增加了其易受该区域事态发展影响的脆弱性。所有这些因素都可能使基金的股票面临更大的价格波动。基金的资产净值将随标的证券的价值而波动。封闭式基金的交易依据是其市值,而不是资产净值,而封闭式基金的交易价格往往低于其资产净值。
基金每日纽约证券交易所收盘价和资产净值,以及其他信息,包括最新的投资组合统计数据和业绩,可在www.thekoreafund.com上查阅,或致电基金股东服务代理,电话:(800)254-5197。
本文中包含的财务信息仅基于本新闻稿发布时可获得的数据,不能保证未来的任何结果将与本文报道的结果相同或相似。我们不保证从我们认为可靠的第三方来源获得的信息的准确性或完整性。本新闻稿不包含买卖任何特定证券的建议,也不应被视为任何类型的投资建议。过去的表现不能保证未来的结果,基金产生的投资回报将会波动。不能保证该基金将达到其规定的目标。不能保证基金股票的市场价格,无论是绝对的还是相对于资产净值的,都会因任何股票回购而上升。在作出任何投资决定时,个人应利用其他资料来源,并征询本身专业顾问的意见。
在business wire.com上查看源代码版本:https://www.businesswire.com/news/home/20200828005253/en/
联系人:韩国基金公司
财务顾问:(800)926-4456
股东:(800)254-5197
媒体关系部:(212)739-3172
(完)道琼斯通讯社
2020年8月28日美国东部时间16:05(格林尼治标准时间20:05)