The Korea Fund, Inc. Temporarily Halts Its Discount Management Program
24 Décembre 2020 - 7:05PM
Business Wire
The Korea Fund, Inc. (NYSE:KF) (the “Fund”) announced today that
it is temporarily halting its Discount Management Program (“DMP”)
in advance of the Fund’s transition of its investment management
and administration to JP Morgan Asset Management (Asia Pacific)
Limited and its affiliates, which is expected to take effect on or
about December 31, 2020.
The Korea Fund, Inc. is a non-diversified, closed-end investment
company. The Fund seeks long-term capital appreciation through
investing primarily in equity securities trading on the Korean
stock exchanges. Its shares are listed on the New York Stock
Exchange under the symbol “KF.”
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with
754 investment professionals in 25 offices worldwide and managing
USD 641 billion in assets for individuals, families and
institutions.
Active is the most important word in our vocabulary. Active is
how we create and share value with clients. We believe in solving,
not selling, and in adding value beyond pure economic gain. We
invest for the long term, employing our innovative investment
expertise and global resources. Our goal is to ensure a superior
experience for our clients, wherever they are based and whatever
their investment needs.
Active is: Allianz Global Investors
Data as of September 30, 2020
Disclaimer
The Korea Fund, Inc. is a non-diversified, closed-end investment
company. The Fund seeks long-term capital appreciation through
investing primarily in equity securities trading on the Korean
stock exchanges. Its shares are listed on the New York Stock
Exchange under the symbol “KF.”
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 your
investment. 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 per share, 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.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in the Fund’s performance, a general downturn in the
economy, competition from other companies, changes in government
policy or regulation, inability to attract or retain key employees,
inability to implement its operating strategy and/or acquisition
strategy, and unforeseen costs and other effects related to legal
proceedings or investigations of governmental and self-regulatory
organizations.
This announcement is not an offer to purchase or the
solicitation of an offer to sell shares of the Fund or a
prospectus, circular or representation intended for use in the
purchase or sale of Fund shares.
Fund shares are not FDIC-insured and are not deposits or other
obligations of, or guaranteed by, any bank. Fund shares involve
investment risk, including possible loss of principal.
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The Korea Fund, Inc. Financial Advisors: (800) 926-4456
Shareholders: (800) 254-5197 Media Relations: (212)
739-3172 Julian Reid (Chairman of the Board): +44 7768 068
200
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