NEW YORK--(BUSINESS WIRE)--
The Korea Fund, Inc. (NYSE:KF) announced today that effective March 1,
2014, Chris Leung will become the Fundís lead portfolio manager
primarily responsible for the day-to-day management of the Fund,
replacing Sang Won Kim. Raymond Chan will continue as a portfolio
manager on the team along with Mr. Leung.
Mr. Leung re-joins the Allianz Global Investorsí investment team
focusing on the Korean strategy. He has almost twenty years of
experience in the asset management industry. Prior to re-joining Allianz
Global Investors Ė where he was the Portfolio Manager for the Korean
strategies from 2001 to 2006 Ė Mr. Leung specialized in long-short
equity investments in Korea and Hong Kong/China.
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
Allianz Global Investors U.S. LLC is the Fundís 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 security
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 Fundís shares to greater price volatility. The net asset value of
the Fund will fluctuate with the value of the underlying securities.
Closed-end funds trade on their market value, not net asset value, and
closed-end funds often trade at a discount to their net asset value.
The Fundís daily New York Stock Exchange closing price and net asset
value per share, as well as other information, including updated
portfolio statistics and performance are available at www.thekoreafund.com
or by calling the Fundís shareholder 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 Fundís
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.
The Korea Fund, Inc.
Financial Advisors: (800) 926-4456
Media Relations: (212) 739-3501
(Chairman of the Board) +44-7768 068 200
Source: The Korea Fund, Inc.