Korea Fund Stock Price, News & Analysis

The Korea Fund, Inc. (NYSE:KF) announced a total distribution of $9.11001 per share, effective January 10, 2022. This includes a net investment income dividend of $2.04528, a long-term capital gain distribution of $3.37030, and a short-term capital gain distribution of $3.69443. Shareholders on record as of December 27, 2021, will receive this payout. Tax characterization of the distributions may change, possibly leading to a return of capital if total distributions exceed net investment income and realized gains at fiscal year-end.

The Korea Fund, Inc. (NYSE:KF) announced the resumption of its Discount Management Program, which was halted on December 24, 2020, due to management transition to JPMorgan Asset Management. The Board believes this decision is in the best interest of the Fund and its shareholders. The Program will adhere to procedures established by the Board, and stock repurchases will be executed by Wells Fargo Advisors Financial Network. The Fund, a closed-end investment company, seeks long-term capital appreciation primarily through Korean equity securities.

The Korea Fund (NYSE: KF) reported net assets of $236.39 million as of December 31, 2020, an increase from $174.44 million in 2019. The Fund's net asset value (NAV) per share rose to $47.09, compared to $34.40 last year. Market price per share also increased to $40.35 from $29.83. However, the discount to NAV was 14.31%, a slight decline from 13.28%. Net investment income for Q4 2020 was $1.29 million, down from $1.53 million year-on-year. The Fund repurchased approximately 9,730 shares during the quarter. These results reflect continued progress amid market fluctuations.

The Korea Fund, Inc. (NYSE:KF) announced the temporary halt of its Discount Management Program (DMP) as it transitions investment management and administration to JP Morgan Asset Management (Asia Pacific) Limited, expected to take effect around December 31, 2020. The Fund focuses on long-term capital appreciation through investments in equity securities on Korean stock exchanges. Allianz Global Investors serves as the Fund’s investment manager, managing USD 641 billion globally.

The Korea Fund, Inc. (NYSE: KF) has declared a net investment income dividend of $0.5255 per share, set to be paid on January 11, 2021, to stockholders of record by December 28, 2020. The ex-dividend date is December 24, 2020. The composition of this distribution may differ at the fiscal year's end, potentially involving a return of capital. Shareholders will receive a Form 1099-DIV in January 2021 for tax purposes. The Fund primarily aims for long-term capital appreciation by investing in Korean equities and is managed by AllianzGI U.S.

The Korea Fund, Inc. (NYSE: KF) has approved a new policy for conducting issuer tender offers for up to 25% of its outstanding shares by September 30, 2024. This action will be triggered if the Fund's total return does not exceed the MSCI Korea 25/50 Index over a specific three-year period. Additionally, the Fund is transitioning its management services to JPMorgan Asset Management. This strategic move aims to enhance performance and shareholder value.

The Korea Fund, Inc. (NYSE: KF) reported its financial results for the quarter ending September 30, 2020. The Fund's Net Assets increased to $177.3 million from $159.4 million in the previous year. The Net Asset Value (NAV) per share rose to $35.24, compared to $31.29 in 2019. However, the Fund incurred a Net Investment Loss of $(365,544) this quarter, with a loss of $(0.07) per share. Additionally, the Market Price per share was $29.65, reflecting a 15.86% discount to NAV.

The Korea Fund, Inc. (NYSE: KF) announced a public portfolio manager call scheduled for October 21, 2020, at 9:00 a.m. ET, coinciding with its Annual Meeting of Stockholders. Chris Leung and ChungJun Yun, portfolio managers, will provide insights on the Korean market's economic outlook. Registration is required to attend the call, which will also allow participants to ask questions. The Fund, managed by Allianz Global Investors, focuses on long-term capital appreciation through investments in Korean equity securities.

The Korea Fund, Inc. (NYSE: KF) announced a public portfolio manager call on October 21, 2020, at 9:00 a.m. ET, coinciding with its Annual Meeting of Stockholders. Chris Leung, CFA, will discuss the Korean market's economic update, leveraging his 25 years of investment experience. Participants can register online for the call and will have the opportunity to ask questions. Following the meeting, a replay will be available. The Korea Fund seeks long-term capital appreciation through investments primarily in Korean equities and is managed by Allianz Global Investors.