Weiss Korea Opportunity Share Discussion Threads

[davebowler] 27/4/2015 12:38

Publication of Net Asset Value ("NAV")
Date of Release 22nd April 2015

Name NAV per share ISIN NAV DATE
(Pence Per
Share)

Weiss Korea Opportunity 144.56 GG00B933LL68 21st April 2015
Fund Ltd.

[davebowler] 16/4/2015 15:27

Publication of Net Asset Value ("NAV")
Date of Release 16th April 2015

Name NAV per share ISIN NAV DATE
(Pence Per
Share)

Weiss Korea Opportunity 138.62 GG00B933LL68 14th April 2015
Fund Ltd.

[davebowler] 30/3/2015 15:33

Weighted discount of the holdings of pref shares to the ordinary's equivalent is 40%.
Added to that the Weiss Trust is itself at a discount to NAV of 3%

[davebowler] 30/3/2015 15:32

Publication of Net Asset Value ("NAV")
Date of Release 25th March 2015

Name NAV per share ISIN NAV DATE
(Pence Per
Share)

Weiss Korea Opportunity 131.62 GG00B933LL68 24th March 2015
Fund Ltd.

[envirovision] 17/12/2014 14:23

Trading on a premium to nav

[davebowler] 13/11/2014 14:58

hxxp://citywire.co.uk/new-model-adviser/news/investment-trusts-markson-brown-backs-south-korea/a782830?re=31636&ea=252901&utm_source=BulkEmail_NMA_Daily_PM&utm_medium=BulkEmail_NMA_Daily_PM&utm_campaign=BulkEmail_NMA_Daily_PM

[aspex] 01/10/2014 02:01

How does Hyundai purchase of land for a new head office have so much effect upon the NAV?

[davebowler] 17/9/2014 13:22

Westhouse;
Weiss Korea (WKOF.L, -5.6%, Buy) – Another Asian fund, this time with a specialist focus,
but in this case one that is trading on its widest 12-month discount and its widest discount
since launch. The main difference has been the comparative strength and resilience of the
WKOF NAV over recent months relative to some of its more generalist peers where
discounts have now narrowed.

[davebowler] 05/9/2014 09:47

Westhouse;
Weiss Korea Opportunity Fund (WKOF.L, discount to NAV 4.5%, Buy) has released its interim results for the six months to end-June 2014. These provided shareholders with a strong absolute return of 23.2%. The fund also significantly outperformed its index, the MSCI Korea 25/50 Capped Index (which rose by just 0.75% in Sterling terms), though WKOF’s specialised remit and resultant marked differentiation from this index make comparisons somewhat irrelevant.


Despite such a robust performance over the last yea
r, we have seen the company’s
rating drift from an often elevated premium to a no
table discount. It is therefore
pleasing that yesterday’s results provide a reinfor
cement from the Board of its
willingness and desire to minimise the discount thr
ough an active share buy-back policy.
However, given the strength in performance and the
relatively low correlation of the
WKOF NAV with other asset classes, it is somewhat s
urprising that demand has not
been sufficient to maintain a stronger rating than
has been the case. The board has
stated that it has granted its broker authority to
buy back shares during close periods,
when it is unable to issue instructions on buy-back
s. It has also restated that it has the
authority to repurchase up to 40% of the shares of
the company.


Perhaps one point of concern for investors is the s
uccess rate of the fund to date and
the degree of narrowing of the discount of Korean p
referred shares to their ordinary
counterparts that has already occurred. The latter
is partly reflected in the results
statement, with the average weighted discount of WK
OF’s preferred share portfolio has
narrowed from 49.5% at end-December 2013, to 39.8%
on 30 June 2014. Nonetheless,
the absolute level of discount remains high. Furthe
rmore, prospects for enhanced
legislative reform in Korea (particularly in relati
on to elevated dividend payments by
companies), if these were to occur, could provide f
urther support to recent discount
compression trends if they were to be implemented.



So the risk to investors is that the narrowing on p
referred share pricing seen thus far peters
out or is reversed. This could then merely elevate
risks associated with a single country fund,
many of which in the emerging market space continue
to attract double-digit discounts.
However, it is also worth recognising that many Asi
a ex-Japan funds have a Korean weighting
in excess of 20%. And we would argue that by utilis
ing a fund such as WKOF at its current
level of discount (both headline and see through),
provides investors with a positive point of
complementary exposure to other funds.
Some investors may also be deterred by the evident
concentration risk within the portfolio.
At end-June this included a weighty 12.37% of the f
und exposed to the Samsung Electronics
Preferred Share and just over 26% in multiple share
types of the Hyundai Motor Company.
However, while recognising this risk, we believe th
at the active management of the portfolio,
the reduced correlation with other asset classes an
d prospects for further discount
compression at the portfolio level warrant inclusio
n of WKOF in a diversified pool of funds.
Buy




 

[davebowler] 28/8/2014 15:55

Weiss Korea Opportunity NAV 149.03 26th August 2014

[davebowler] 21/8/2014 12:11

Weiss Korea Opportunity Fund NAV 149.02 19th August 2014

[praipus] 15/8/2014 09:43

Chalkstream reducing just noise or sign of things to come?

[davebowler] 15/8/2014 09:24

NAV 142.58p 12th August 2014

[davebowler] 05/8/2014 10:22

hxxp://www.investmentweek.co.uk/investment-week/news/2357250/top-asia-manager-do-not-ignore-decade-low-valuations-in-korea

[davebowler] 04/8/2014 11:18

Weiss Korea Opportunity NAV 143.90 31st July 2014

[davebowler] 31/7/2014 08:52

Date of Release -30th July 2014


Name NAV per share ISIN NAV DATE
(Pence Per
Share)
Weiss Korea Opportunity 141.58 GG00B933LL68 29th July 2014
Fund Ltd.

[davebowler] 28/7/2014 11:07

Now trading slightly below NAV;

Date of Release -23rd July 2014


Name NAV per share ISIN NAV DATE
(Pence Per
Share)
------------------------ -------------- ------------- ---------------
Weiss Korea Opportunity 138.55 GG00B933LL68 22nd July 2014
Fund Ltd.

[davebowler] 05/6/2014 07:30

Trading below NAV;

Date of Release -04th June 2014


Name NAV per share ISIN NAV DATE
(Pence Per
Share)
------------------------ -------------- ------------- ---------------
Weiss Korea Opportunity 133.36 GG00B933LL68 03rd June 2014
Fund Ltd.
------------------------ -------------- ------------- ---------------

[davebowler] 27/5/2014 11:46

Name NAV per share ISIN NAV DATE
(Pence Per
Share)
------------------------ -------------- ------------- --------------
Weiss Korea Opportunity 125.64 GG00B933LL68 20th May 2014
Fund Ltd.

[davebowler] 22/5/2014 22:00

All time high.