Every material Form 8-K KOREA FUND INC has filed with the SEC since September 08, 2008, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Korea Fund's investment manager, AllianzGI U.S., and Virtus Investment Partners announced a strategic partnership under which Virtus Investment Advisers, Inc., a Virtus subsidiary, would become the Fund's investment manager. The new arrangements require approval from the Fund's Board of Trustees and shareholders and are expected to be in place by the end of 2020.
Virtus Investment Advisers, Inc., a wholly-owned Virtus subsidiary, would become the Fund's investment manager.
The arrangements are subject to approval by the Fund's Board of Trustees and Fund shareholders; completion is expected by the end of calendar year 2020.
AllianzGI teams would continue to manage the strategies in a subadvisory capacity; AllianzGI has approximately $23 billion in U.S. retail assets as of May 31, 2020.
The companies did not disclose specific terms other than that there are no payments at closing.
The Korea Fund mailed its semi-annual report for the period ending December 31, 2009, with a Chairman's letter dated January 28, 2010, furnished as Exhibit 99.1. The letter says the Fund's net asset value rose 34.24% from July 1 to December 31, 2009, slightly ahead of the KOSPI's 32.44% gain in US dollar terms, while the board described the Fund's 2009 underperformance as disappointing.
NAV rose 34.24% net of expenses in the July 1 to December 31, 2009 period; KOSPI gained 32.44% in US dollar terms
Share price rose 29.6% in the period and closed December 31, 2009 at $35.55, a 9.95% discount to NAV
Board said 2009 investment performance was disappointing, citing a January 2009 capital gains distribution and the market's first-stage recovery
Chairman Julian Reid signed the letter; the Fund will post quarterly updates to its website with a possible 30-day delay
The Korea Fund mailed its annual report for the fiscal year ended June 30, 2008, with a Chairman's letter dated July 31, 2008, furnished as Exhibit 99.1. The letter reports that the Fund's net asset value declined 14.7% over the period, compared with a 12.7% decline in the MSCI Korea (Total Return) Index, though the Fund ranked 6th in a 16-member peer group for the 12 months ended June 30, 2008.
NAV declined 14.7% over the July 1, 2007 to June 30, 2008 period; MSCI Korea (Total Return) Index declined 12.7%
Dividends of $15.94 per share were paid in November 2007, versus $6.67 in November 2006, plus $1.30 per share in January 2008
Fund accepted 4,303,210 shares in a tender offer, about 15% of outstanding shares
Realized capital gains of approximately $225.4 million ($9.24 per share) are expected to be paid to stockholders in January 2009
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every KOREA FUND INC filing is on SEC EDGAR ↗. 8-K briefs of other companies →