NEW YORK–(BUSINESS WIRE)–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 nine months ended March 31, 2019.
At March 31,
|Net Asset Value (“NAV”)||$||33.68||$||47.12|
|Discount to NAV||(12.66||)%||(13.37||)%|
Quarter ended March 31,
|Net Investment Income (Loss)||$||(181,300||)||$||301,343|
|Per Share (b)||$||(0.03||)||$||0.05|
|Net Realized and Change in Unrealized Gain||$||6,801,154||$||1,746,405|
Nine Months ended March 31,
|Net Investment Income||$||1,307,396||$||1,189,388|
|Per Share (b)||$||0.25||$||0.21|
|Net Realized and Change in Unrealized Gain (Loss)||$||(20,694,304||)||$||34,010,975|
Under its share repurchase program, the Fund repurchased 42,942
shares and 162,452 for the fiscal quarter and nine months ended
March 31, 2019.
|(b)||Calculated on average shares outstanding.|
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 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.
The Korea Fund, Inc.
Financial Advisors: (800) 926-4456
Media Relations: (212) 739-3172