The Korea Fund, Inc. Resumes Its Discount Management Program
30 Novembre 2021 - 5:58PM
Business Wire
The Board of Directors (the “Board”) of the Korea Fund, Inc.
(NYSE:KF) (the “Fund”) announced today that it will resume the
operation of its Discount Management Program (the "Program"), which
was temporarily halted on Thursday, December 24, 2020 in advance of
the Fund’s transition of its investment management and
administration to JPMorgan Asset Management (Asia Pacific) Limited
and its affiliates on Friday, January 1st 2021. The Board has
determined the resumption of the Program would be in the best
interest of the Fund and its stockholders. The Program will operate
in accordance with the procedures and parameters adopted by the
Board of Directors and the execution for any stock repurchases will
be undertaken by Wells Fargo Advisors Financial Network.
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.”
JPMorgan Asset Management (Asia Pacific) Ltd is the Fund's
Investment Adviser. 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 (866) 706
0510.
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.
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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version on businesswire.com: https://www.businesswire.com/news/home/20211130005882/en/
The Korea Fund, Inc. www.thekoreafund.com Stockholder Servicing
Agent: 866 706 0510 Julian Reid (Chairman of the Board): +44 7768
068 200
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