Weiss Korea Opportunity results for 2014 have been published. The NAV per Share increased from 108.5p to 120.4p (11.0%) over the year. They compare their performance to the MSCI Korea 25/50 Capped Index, this fell by 5.2% so the fund did very well in 2014. They also paid a dividend of 1.4413p in the year and say they will be announcing annual dividends each summer going forward.
The NAV was hit by a dramatic fall in the value of Hyundai Motors as that company paid way over the odds for a parcel of land, calling into question the corporate governance standards of the whole country for a while. The managers think that the price falls on companies related to Hyundai have been overdone.
WKOF : Weiss Korea has good year despite Hyundai Motor