The Korea Fund, Inc. (NYSE:KF) has announced the release of its fiscal quarter earnings for the period ended September 30, 2009. The company reported it’s a net investment loss of $980,433 for the quarter ended September 30, 2009. The previous year during the same period experienced a net investment loss of $1,168,615.
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It’s net realized and changed in unrealized gain for the 2009 period was recorded at $91,325,561. The company announced a loss for the same period during 2008 of $129,739,494, adjusted for the 1for10 reverse stock split on December 22, 2008. The full report may be viewed online at www.thekoreafund.com.
The Korea Fund, Inc. is a closed-end, non-diversified management investment company. The Fund seeks long-term capital appreciation through investment in securities, primarily equity securities, of Korean companies. It invests in various industries, such as chemicals, commercial banks, commercial services and supplies, communications, construction and engineering, consumer discretionary, consumer finance, diversified consumer services, electrical equipment, electronic equipment and instruments, entertainment, financial services, food and staples retailing, insurance, Internet software and services, metals and mining, pharmaceuticals, retail, semi-conductors, shipbuilding, tobacco, wholesale and wireless telecommunications services. The Fund’s investment manager is RCM Capital Management LLC. Its sub-advisor is RCM Asia Pacific Limited and its sub-administrator is Allianz Global Investors Fund Management LLC.
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