Korea Fund (KF) : City Of London Investment Management Co Ltd scooped up 18,085 additional shares in Korea Fund during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,292,028 shares of Korea Fund which is valued at $71.5 Million.Korea Fund makes up approximately 5.42% of City Of London Investment Management Co Ltd’s portfolio.
Other Hedge Funds, Including , Gramercy Funds Management boosted its stake in KF in the latest quarter, The investment management firm added 13,013 additional shares and now holds a total of 150,141 shares of Korea Fund which is valued at $4.7 Million. Korea Fund makes up approx 1.33% of Gramercy Funds Management’s portfolio.
Korea Fund opened for trading at $30.87 and hit $31.32 on the upside on Wednesday, eventually ending the session at $31.32, with a gain of 2.02% or 0.62 points. The heightened volatility saw the trading volume jump to 7,226 shares. Company has a market cap of $156 M.
The Korea Fund Inc. is a closed-end non-diversified management investment company. The Fund’s investment objective is to seek long-term capital appreciation through investment in securities principally equity securities of Korean companies. Generally the Fund enters into contracts that contain various representations that provide general indemnifications. The Fund directly invests in foreign currencies or in securities that trade in and receive revenues in foreign currencies or in derivatives that provide exposure to foreign currencies. The Fund invests at least 80% of its net assets in securities listed on the Korea Stock Exchange. The Fund also offers capital appreciation potential by focusing on Korea companies exhibiting solid long-term growth characteristics. The Fund also trades financial instruments and enters into financial transactions. The Fund’s investment manager is Allianz Global Investors U.S. LLC (AllianzGI U.S.).