1607 Capital Partners Cuts Korea Fund Stake to 3.0%

TL;DR

**1607 Capital Partners trimmed its Korea Fund stake to 3.0%, signaling a potential shift in sentiment.**

AI Summary

1607 Capital Partners, LLC, a Delaware-based investment firm, filed an amended SC 13G/A on February 8, 2024, disclosing its ownership in Korea Fund, Inc. As of December 31, 2023, 1607 Capital Partners beneficially owned 451,816 shares of Korea Fund's common stock, representing 3.0% of the company. This is a decrease from their previous filing, indicating they have reduced their stake. This matters to investors because a significant institutional investor reducing its position could signal a change in their outlook on the fund's future performance or the South Korean market.

Why It Matters

This filing shows that a major institutional investor, 1607 Capital Partners, has reduced its ownership in Korea Fund, Inc., which could be interpreted as a less bullish outlook on the fund or the South Korean market it invests in.

Risk Assessment

Risk Level: medium — A reduction in ownership by a significant institutional investor like 1607 Capital Partners could indicate a perceived increase in risk or a less favorable outlook for Korea Fund, Inc.

Analyst Insight

Investors considering Korea Fund, Inc. should investigate the reasons behind 1607 Capital Partners' reduced stake, potentially looking into the fund's recent performance or broader South Korean market trends, before making investment decisions.

Key Numbers

• 451,816 — shares beneficially owned (the total number of shares of Korea Fund, Inc. common stock owned by 1607 Capital Partners, LLC as of December 31, 2023)
• 3.0% — percentage of class (the percentage of Korea Fund, Inc. common stock owned by 1607 Capital Partners, LLC as of December 31, 2023)
• December 31, 2023 — date of event (the date on which the ownership stake was calculated for this filing)
• $0.01 — par value per share (the par value of Korea Fund, Inc. common stock)

Key Players & Entities

• 1607 Capital Partners, LLC (company) — the reporting person who filed the SC 13G/A
• Korea Fund, Inc. (company) — the issuer whose securities are being reported
• Delaware (company) — place of organization for 1607 Capital Partners, LLC
• JPMorgan Asset Management (company) — business address associated with Korea Fund Inc.

Forward-Looking Statements

• Korea Fund, Inc. stock price may experience downward pressure due to the reduced institutional ownership. (Korea Fund, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Korea Fund, Inc. following this reduction. (Institutional Investors) — low confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• kf-123123a12.htm (SC 13G/A) — 51KB
• 0001172661-24-000569.txt ( ) — 53KB

(a)Name of Issuer

Item 1. (a)Name of Issuer Korea Fund, Inc. (b)Address of Issuer’s Principal Executive Offices 60 Victoria Embankment London, UK EC4Y 0JP

(a)Name of Person Filing

Item 2. (a)Name of Person Filing 1607 Capital Partners, LLC (b)Address of Principal Business Office, or, if none, Residence 13 S. 13th Street, Suite 400 Richmond, Virginia 23219 (c)Citizenship Please refer to Item 4 on each cover sheet for each filing person (d)Title of Class of Securities Common Stock, par value $0.01 per share (e) CUSIP No.: 500634209 CUSIP No. 500634209 SCHEDULE 13G /A Page 4 of 6 Pages

If

Item 3.If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) x An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: CUSIP No. 500634209 SCHEDULE 13G/A Page 5 of 6 Pages Item 4.Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 451,816 (b) Percent of class: 9.2% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 451,816 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 451,816 (iv) Shared power to dispose or to direct the disposition of: 0 Item 5.Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the report

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