Korea Value 10-Year Investment Fund (Equity)
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 38
- 2015-07-18 ~ 2015-10-17
- CIO Quarterly Letter
Dear Investors, During the past three months, we have witnessed the stock market fluctuate considerably. In fact, while the stock market seldom goes without fluctuations, a greater degree of volatility has been observed during the past quarter. After starting off at 2,074pt in early July, the KOSPI suddenly plummeted to 1,800pt at the end of August (on overblown concerns over the US Fed’s federal funds rate (FF rate) hike and China’s slowing GDP growth momentum), giving rise to extreme fear in the market.
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- 37
- 2015-04-18 ~ 2015-07-17
- CIO Quarterly Letter
Dear Investors, Looking back over the past three months, we wish the market situation had turned better. At home and abroad, stock markets have faced mounting uncertainties, which still remain in play. Indeed, with the first half of this year coming to an end, market volatility is showing no signs of abating. Anxiety is mounting in the Eurozone with the threat of a ‘Grexit’ looming large. Meanwhile, following a long period of endless soaring, the Chinese stock market is taking a nosedive. Korea is not isolated from this market instability.
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- 36
- 2015-01-18 ~ 2015-04-17
- Letter from Fund Manager
For the past one year, the Korea Value 10-Year Investment Fund (Equity)(the “Fund”) has recorded an annual return of 5.05%, underperforming the KOSPI, which has gained by 7.6% over the same period. Although we achieved our goal of “securing investment returns higher than interest rates on deposits while keeping investment principal safe”, the lower-than-expected return still disappoints us. For the past nine years since its inception, the Fund has generated a cumulative return of 175%, which is equivalent to a compound rate of return of 11.9% per annum.
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- 36
- 2015-01-18 ~ 2015-04-17
- CIO Quarterly Letter
Dear Investors,
It has been more than nine years since the Korea Value 10-Year Investment Fund (Equity)(the “Fund”) was launched. Looking back, we were worried at first, wondering how many investors would bear with us for as long as 10 years. However, the sound performance recorded by the Fund over the past nine years has proven our concerns to be overblown. Indeed, since its inception, the Fund’s AUM has expanded to over 1.5 trillion won, and our investors’ capital has increased by 2.7 times.
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