Korea Value 10-Year Investment Fund (Equity)
-
- 47
- 2017-10-18 ~ 2018-01-17
- CIO Quarterly Letter
Dear investors,
Looking back at 2017, the KOSPI gained 21.7% on an annual basis, breaking out of the doldrums that had continued for six years. Having been out of sync with the bullish global stock markets for a long time, the Korean stock market finally soared on the back of corporate Korea (led by the IT industry)’s exponential earnings growth.
PDF Download
-
- 46
- 2017-07-18 ~ 2017-10-17
- CIO Quarterly Letter
Dear investors,
The Korean stock market has performed bullishly throughout 2017. After temporarily correcting in summer, the KOSPI quickly rebounded to sustain its strength, and hit KOSPI quickly rebounded to sustain its strength, and hit its all-time high in October. Unfortunately, however, we cannot proudly present our resluts to the investors, because the 10-Year Investment Fund (Equity)(the "Fund") underperformed the KOSPI from July 2017 to October 2017.
PDF Download
-
- 45
- 2017-04-18 ~ 2017-07-17
- CIO Quarterly Letter
Dear investors,
For the past eight months since December 2016, the KOSPI has sustained a robust rally, continuing to set a new record high. With the market remaining bullish, concerns are now being raised as to if the KOSPI may soon peak out. In response to such concerns, we note that the level of the stock market index alone is not sufficient to confirm whether the shares have become overvalued or undervalued.
PDF Download
-
- 44
- 2017-01-18 ~ 2017-04-17
- CIO Quarterly Letter
Dear investors,
This year marks the 11th anniversary for the Korea Value 10-Year Investment Fund (Equity)(the “Fund”). After reaching its first 10-year milestone in April 2016, the Fund had another one year marking the start of the next decade.
PDF Download
-
- 43
- 2016-10-18 ~ 2017-01-17
- CIO Quarterly Letter
Dear investors,
As you are well aware, a number of events took the market by surprise throughout 2016. Among them, we draw particular attention to the following three events that will give you the most intense flashback to last year’s market landscape: (1) the UK’s vote for Brexit; (2) Donald Trump’s victory in the US presidential election; and (3) the Korean National Assembly’s approval on the impeachment motion against President GH Park.
PDF Download
-
- 42
- 2016-07-18 ~ 2016-10-17
- CIO Quarterly Letter
Dear investors,
In the 41st quarterly report, we mainly touched upon uncertainties and worrisome factors surrounding the stock market, such as the US's likely FF rate hike and the Brexit negotiation. Defying our concerns, however, the stock market has regained its stability, helping to brighten the outlook for its future performance. In our response to market fluctuations, we will continue to uphold the principle of value investing, as always.
PDF Download
-
- 41
- 2016-04-18 ~ 2016-07-17
- CIO Quarterly Letter
In the 41st quarter since its launch, the Korea Value 10-Year Investment Fund(Equity) (the "Fund") displayed disappointing performance, underperforming benchmark. The Fund's quarterly return stood at -3.51%. Despite the weaker-than-expected results, however, we will stick to our long-held investment principle, remaining undefeated by market fluctuations.
PDF Download
-
- 40
- 2016-01-18 ~ 2016-04-17
- Letter from Fund Manager
For the past five years, the Korea Value 10-Year Investment Fund (Equity)(the “Fund”) has recorded a 5-year cumulative return of 79.53%, which is equivalent to a compound rate of return of 12.42% per annum. The figures indicate that the Fund has achieved its goal of outperforming the KOSPI, which has gained by 50.46% over the same period, as well as securing a return that is higher than bank deposit rates.
PDF Download
-
- 40
- 2016-01-18 ~ 2016-04-17
- CIO Quarterly Letter
Dear investors,
This year marks the 10th anniversary of the Korea Value 10-Year Investment Fund (Equity)(the “Fund”). A period of 10 years is never a short time.
PDF Download
-
- 39
- 2015-10-18 ~ 2016-01-17
- CIO Quarterly Letter
Dear Investors,
During the past quarter (October 18, 2015-January 17, 2016), the Korea Value 10-Year Investment Fund (Equity) (the “Fund”) posted a disappointing return of -8.69%, underperforming its benchmark, which generated a three-month return of -6.73%. In order for the Fund to display a stronger performance in 2016, we will construct a portfolio that is better suited to buffer market fluctuations.
PDF Download
