Gramercy Funds Management Lowers stake in Korea Fund (KF)

Korea Fund (KF) : Gramercy Funds Management reduced its stake in Korea Fund by 5.53% during the most recent quarter end. The investment management company now holds a total of 141,841 shares of Korea Fund which is valued at $4,989,966 after selling 8,300 shares in Korea Fund , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Korea Fund makes up approximately 1.99% of Gramercy Funds Management’s portfolio.

Other Hedge Funds, Including , Edmond De Rothschild (suisse) S.a. sold out all of its stake in KF during the most recent quarter. The investment firm sold 300 shares of KF which is valued $10,554. Genovese Burford Brothers Wealth Retirement Plan Mana… added KF to its portfolio by purchasing 45 company shares during the most recent quarter which is valued at $1,586.Rmb Capital Management boosted its stake in KF in the latest quarter, The investment management firm added 1,908 additional shares and now holds a total of 15,714 shares of Korea Fund which is valued at $532,233. Korea Fund makes up approx 0.04% of Rmb Capital Management’s portfolio.Aberdeen Asset Management Plcuk reduced its stake in KF by selling 94,935 shares or 32.95% in the most recent quarter. The Hedge Fund company now holds 193,195 shares of KF which is valued at $6,543,515. Korea Fund makes up approx 0.02% of Aberdeen Asset Management Plcuk’s portfolio.

Korea Fund closed down -0.0819 points or -0.23% at $34.9881 with 1,062 shares getting traded on Friday. Post opening the session at $34.95, the shares hit an intraday low of $34.872 and an intraday high of $34.9881 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.).

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