DOCSLIB.ORG

Mirae Asset Global Discovery Fund Société D’Investissement À Capital Variable

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Mirae Asset Global Discovery Fund Société D’Investissement À Capital Variable Mirae Asset Global Discovery Fund Société d’Investissement à Capital Variable Annual Report and Audited Financial Statements for the Year Ended 31 March 2021 R.C.S Luxembourg B138.578 No subscription may be accepted on the basis of this report. Subscriptions are accepted only on the basis of the current prospectus and key investor information documents accompanied by the latest annual report and the latest semi-annual report if available. Mirae Asset Global Discovery Fund Société d’Investissement à Capital Variable Annual Report and Audited Financial Statements for the year ended 31 March 2021 Table of Content General Information ...........................................................................................................................3 Principal Investment Manager’s Report ............................................................................................... 5 Independent Auditor’s Report .............................................................................................................. 7 Financial Statements ......................................................................................................................... 10 Statement of Net Assets Statement of Operations and Changes in Net Assets Statistical Information Notes to the Financial Statements ................................................................................................... 31 Schedule of Investments ................................................................................................................... 41 Mirae Asset Korea Equity Fund* Mirae Asset China Sector Leader Equity Fund Mirae Asset India Sector Leader Equity Fund Mirae Asset Asia Sector Leader Equity Fund Mirae Asset Asia Pacific Equity Fund Mirae Asset GEM Sector Leader Equity Fund Mirae Asset Asia Great Consumer Equity Fund Mirae Asset Global Great Consumer Equity Fund* Mirae Asset Asia Growth Equity Fund Mirae Asset China Growth Equity Fund Mirae Asset Next Asia Pacific Equity Fund* Mirae Asset India Mid Cap Equity Fund* Mirae Asset Global Dynamic Bond Fund* Industrial & Geographical Classification .................................................................................................. 65 Mirae Asset Korea Equity Fund* Mirae Asset China Sector Leader Equity Fund Mirae Asset India Sector Leader Equity Fund Mirae Asset Asia Sector Leader Equity Fund Mirae Asset Asia Pacific Equity Fund Mirae Asset GEM Sector Leader Equity Fund Mirae Asset Asia Great Consumer Equity Fund Mirae Asset Global Great Consumer Equity Fund* Mirae Asset Asia Growth Equity Fund Mirae Asset China Growth Equity Fund Mirae Asset Next Asia Pacific Equity Fund* Mirae Asset India Mid Cap Equity Fund* Mirae Asset Global Dynamic Bond Fund* Unaudited Supplementary Information ............................................................................................84 * Not authorized in Hong Kong and not available to Hong Kong Residents. 2 General Information Registered Office Members 31 z.a. Bourmicht Mr. Romain DENIS L-8070 Bertrange Executive Director – Managing Director Grand Duchy of Luxembourg FundRock Management Company S.A. Luxembourg, Grand Duchy of Luxembourg Board of Directors Mr. Eric MAY (until 12 February 2021) Chairman Non-Executive Director Mr. Jung Ho RHEE Founding Partner Chief Executive Officer BlackFin Capital Partners Mirae Asset Global Investments (Hong Kong) Limited Paris, France Hong Kong Mrs. Tracey MCDERMOTT Members Independent Non-Executive Director Mr. Elliot BERMAN Luxembourg, Grand Duchy of Luxembourg Managing Director, Operations Mirae Asset Global Investments (UK) Limited Mr. Grégory NICOLAS (until 26 June 2020) United Kingdom Executive Director – Co-Managing Director FundRock Management Company S.A. Mr. Se Han SONG (since 22 June 2020) Grand Duchy of Luxembourg Head of Business Planning & Product Development Mirae Asset Global Investments (Hong Kong) Limited Mr. Serge RAGOZIN (until 12 February 2021) Hong Kong Executive Director – Deputy Chief Executive Officer FundRock Management Company S.A. Mr. Byung Ha KIM Grand Duchy of Luxembourg Chief Operating Officer Mirae Asset Global Investments (Hong Kong) Limited Mr. Xavier PARAIN Hong Kong Executive Director – Chief Executive Officer FundRock Management Company S.A. Mr. Young-Rae CHO (until 8 April 2020) Grand Duchy of Luxembourg Head of Business Development and Product Mirae Asset Global Investments (Hong Kong) Limited Mr. Thibault GREGOIRE (since 16 February 2021) Hong Kong Executive Director – Chief Financial Officer FundRock Management Company S.A. Management Company Grand Duchy of Luxembourg FundRock Management Company S.A 33, rue de Gasperich Conducting Persons L-5826 Hesperange Mr. Romain DENIS Grand Duchy of Luxembourg Mr. Gregory NICOLAS (until 26 June 2020) Mr. Matteo SBROLLA Board of Directors of the Management Company Mr. Emmanuel NANTAS (since 8 October 2020) Mr. Franck CARAMELLE (since 8 October 2020) Chairman Mr. Alexis FERNANDEZ (since 8 October 2020) Mr. Michel Marcel VAREIKA Independent Non-Executive Director Luxembourg, Grand Duchy of Luxembourg 3 General Information (continued) Principal Investment Manager* Legal Advisors Mirae Asset Global Investments (Hong Kong) Limited Arendt & Medernach S.A. Room 1101, 11F, Lee Garden Three 41A, avenue J.F. Kennedy 1 Sunning Road, Causeway Bay L-2082 Luxembourg Hong Kong Grand Duchy of Luxembourg Investment Managers** Information to Shareholders Mirae Asset Global Investments Co Ltd 13F, Copies of the prospectus and any information relating thereto may Tower 1, 33, Jong-ro be obtained from the registered office of the Company at 31 z.a. Jongno-gu, Seoul, 03159, Bourmicht, L-8070 Bertrange, Grand Duchy of Luxembourg, from Republic of Korea Mirae Asset Global Investments (Hong Kong) Limited and from the appointed fund distributors. Mirae Asset Global Investments (USA) LLC 625 Madison Avenue, 3rd Floor Corporate Governance New York, NY 10022 Following its introduction in September 2009, the Board of Directors United States of America has adopted the ALFI Code of Conduct (the “Code”), which sets out the principles of good governance. The Board considers that MAPS Capital Management Limited the Company has been in compliance with the Code in all material Room 1101, 11F, Lee Garden Three respects throughout the year ended 31 March 2021. 1 Sunning Road, Causeway Bay Hong Kong Daiwa Asset Management Co. Ltd. Gran Tokyo North Tower 9-1 Marunouchi 1- Chome Chiyoda-ku, Tokyo 100-6753 Japan Global Distributor* Mirae Asset Global Investments (Hong Kong) Limited Room 1101, 11F, Lee Garden 1 Sunning Road, Causeway Bay Hong Kong Depositary, Administrative Agent*, Registrar and Transfer Agent*, Paying Agent* Citibank Europe Plc, Luxembourg Branch 31 z.a. Bourmicht L-8070 Bertrange Grand Duchy of Luxembourg Hong Kong Representative Mirae Asset Global Investments (Hong Kong) Limited Room 1101, 11F, Lee Garden 1 Sunning Road, Causeway Bay Hong Kong Independent Auditor Ernst & Young S.A. 35E, avenue John F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg * Delegated by the Management Company ** Delegated by the Principal Investment Manager 4 Principal Investment Manager’s Report Market Overview for the Year Ended 31 March 2021 The start to 2020 saw capital markets experiencing huge volatility China and mass panic sell-offs. By April 2020, there was a sharp Throughout the year, we saw Beijing’s decision to completely recovery in markets post-March sell-off that drove markets to open up the mutual fund industry to foreign companies which was GFC lows. The US Senate passed the Holding Foreign Companies positive news to investors and signaled the country’s willingness Accountable Act by unanimous consent. Markets initially rebounded to open up its capital markets despite trade tensions. At the in beneficiaries of Covid through “stay-at-home” technology names UN General Assembly on the 22nd of September, President Xi but throughout 4Q2020, global markets reacted off positive news announced that China aims to achieve carbon neutrality before 2060. when Pfizer, BioNTech as well as Moderna announced a Covid The expectation in the coming decades is for substantial vaccine breakthrough. This coupled with Biden’s win in the US transformation in China’s energy mix. The Nation also announced elections diverted investor attention towards cyclical stocks driving its “dual circulation” strategy where it will realign its traditional a market rotation. The rally broadened across markets and sectors emphasis on economic growth through exports to a renewed focus as lockdowns ended, economies moved towards normalization. towards proliferating domestic demand. During 1Q21, we saw the Strong market performance and Biden’s victory further propelled tightening of the internet and online education sector with the the case for a reflationary trade environment. reiteration of anti-trust regulation. The State Administration for Market Regulation (SAMR) announced that the Chinese authority Asia will start an investigation into Alibaba on its alleged monopolistic In India, the impact of Covid, slowing growth momentum, concerns practices shaking up the Chinese fintech sector as regulators are over the banking sector, and the state of fiscal finances led to set to implement new anti-monopolistic parameters. Towards the a rating downgrade by Moody’s in 2020 from Baa2 to Baa3. end of the quarter Alibaba received a record fine of US$2.8bn. Over the past year, several reforms have been announced to lift India’s medium-term growth potential. Corporate taxes have been
Load more

Recommended publications
  • Opportunities Amid Crisis
    Banks Opportunities amid crisis 1Q20 preview: Lower NIMs, healthier-than-expected loan growth, and stable credit costs For 1Q20, we expect banks under our coverage—Shinhan Financial Group (SFG), KB Industry Report Financial Group (KBFG), Hana Financial Group (HFG), Industrial Bank of Korea (IBK), April 22, 2020 BNK Financial Group (BNKFG), DGB Financial Group (DGBFG), and JB Financial Group (JBFG)—to post combined net profit attributable to controlling interests of W3tr (-7.5% YoY), in line with the recently lowered consensus. Whil e we see net profit declining YoY on high base effects (due to provision reversals a year ago), we still think banks Mirae Asset Daewoo Co., Ltd. performed decently amid growing concerns over the economy. We estimate bank net [Banks/Credit Cards ] interest margins (NIMs) fell 4-5bps QoQ, but we believe loa n growth was healthier than expected, as large banks’ won-denominated loans likely expanded 2.5% QoQ on Heather Kang average. We estimate credit costs increased 17% YoY, while the ratio of credit costs to +822 -3774 -1903 total credit was likely stable at 38bps (vs. 35bps in 1Q19, when reversals of provisions [email protected] were included). 2020 forecast: Net profit to decline 7%; ROE of 7.4% Concerns are growing over the potential impact of COVID-19 on banks (asset quality and credit costs) and the broader economy, as it is still unknown how long the outbreak will last and what its impact will be. Unlike previous financial crises that were triggered by large conglomerates or banks, we think the potential upcoming crisis is very likely to start from micro businesses, small merchants, and SMEs, before spreading gradually to larger enterprises.
    [Show full text]
  • FTSE Korea 30/18 Capped
    2 FTSE Russell Publications 19 August 2021 FTSE Korea 30/18 Capped Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) Alteogen 0.19 KOREA Hyundai Engineering & Construction 0.35 KOREA NH Investment & Securities 0.14 KOREA AmoreG 0.15 KOREA Hyundai Glovis 0.32 KOREA NHN 0.07 KOREA Amorepacific Corp 0.65 KOREA Hyundai Heavy Industries 0.29 KOREA Nong Shim 0.08 KOREA Amorepacific Pfd. 0.08 KOREA Hyundai Marine & Fire Insurance 0.13 KOREA OCI 0.17 KOREA BGF Retail 0.09 KOREA Hyundai Merchant Marine 1.02 KOREA Orion 0.21 KOREA BNK Financial Group 0.18 KOREA Hyundai Mipo Dockyard 0.15 KOREA Ottogi 0.06 KOREA Celltrion Healthcare 0.68 KOREA Hyundai Mobis 1.53 KOREA Paradise 0.07 KOREA Celltrion Inc 2.29 KOREA Hyundai Motor 2.74 KOREA Posco 1.85 KOREA Celltrion Pharm 0.24 KOREA Hyundai Motor 2nd Pfd. 0.33 KOREA Posco Chemical 0.32 KOREA Cheil Worldwide 0.14 KOREA Hyundai Motor Pfd. 0.21 KOREA Posco International 0.09 KOREA CJ Cheiljedang 0.3 KOREA Hyundai Steel 0.33 KOREA S1 Corporation 0.13 KOREA CJ CheilJedang Pfd. 0.02 KOREA Hyundai Wia 0.13 KOREA Samsung Biologics 0.92 KOREA CJ Corp 0.11 KOREA Industrial Bank of Korea 0.22 KOREA Samsung C&T 0.94 KOREA CJ ENM 0.15 KOREA Kakao 3.65 KOREA Samsung Card 0.08 KOREA CJ Logistics 0.12 KOREA Kangwon Land 0.23 KOREA Samsung Electro-Mechanics 0.81 KOREA Coway 0.36 KOREA KB Financial Group 1.78 KOREA Samsung Electronics 25.36 KOREA Daewoo Engineering & Construction 0.12 KOREA KCC Corp 0.12 KOREA Samsung Electronics Pfd.
    [Show full text]
  • Holdings-Report.Pdf
    The Fund is a closed-end exchange traded management Investment company. This material is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Changes to investment policies, current management fees, and other matters of interest to investors may be found in each closed-end fund's most recent report to shareholders. Holdings are subject to change daily. PORTFOLIO HOLDINGS FOR THE KOREA FUND as of July 31, 2021 *Note: Cash (including for these purposes cash equivalents) is not included. Security Description Shares/Par Value Base Market Value (USD) Percent of Base Market Value SAMSUNG ELECTRONICS CO 793,950 54,183,938.27 20.99 SK HYNIX INC COMMON 197,500 19,316,452.95 7.48 NAVER CORP COMMON STOCK 37,800 14,245,859.60 5.52 LG CHEM LTD COMMON STOCK 15,450 11,309,628.34 4.38 HANA FINANCIAL GROUP INC 225,900 8,533,236.25 3.31 SK INNOVATION CO LTD 38,200 8,402,173.44 3.26 KIA CORP COMMON STOCK 107,000 7,776,744.19 3.01 HYUNDAI MOBIS CO LTD 26,450 6,128,167.79 2.37 HYUNDAI MOTOR CO 66,700 6,030,688.98 2.34 NCSOFT CORP COMMON STOCK 8,100 5,802,564.66 2.25 SAMSUNG BIOLOGICS CO LTD 7,230 5,594,175.18 2.17 KB FINANCIAL GROUP INC 123,000 5,485,677.03 2.13 KAKAO CORP COMMON STOCK 42,700 5,456,987.61 2.11 HUGEL INC COMMON STOCK 24,900 5,169,415.34 2.00 SAMSUNG 29,900 4,990,915.02 1.93 SK TELECOM CO LTD COMMON 17,500 4,579,439.25 1.77 KOREA INVESTMENT 53,100 4,427,115.84
    [Show full text]
  • MIRAE ASSET DAEWOO INTEGRATED REPORT About This Report
    2020 2020 MIRAE ASSET DAEWOO INTEGRATED REPORT REPORT DAEWOO INTEGRATED 2020 MIRAE ASSET MIRAE ASSET DAEWOO INTEGRATED REPORT GLOBAL INVESTMENT PARTNER INVESTMENT GLOBAL About This Report The 2020 Mirae Asset Daewoo Integrated Report was created with an aim of reviewing our sustainability management activities and our achievements, and thus providing stakeholders with information in a transparent manner. Reporting Status This report is the ninth sustainability report since we published a sustainability report for the first time in the industry in 2006 and is the fourth after the merger with Mirae Asset Securities in December 2016. In addition, this report has been developed as an Integrated Report which consolidates an annual report and a sustainability report since 2018. Reporting Method and Period This report is compiled in accordance with the Core option of the Global Reporting Initiative (GRI) Standards, a global standard for sustainability reports, and the framework of the International Integrated Reporting Council (IIRC). It is also aligned to the 10 principles of the UN Global Compact, which the company has been upholding since 2006. The reporting period of this report is from January 1st 2019 to December 31st 2019, and some topics disclose three-year data from 2017 for trend comparison. Both financial information and non- financial information are reported according to the company’s fiscal years following our disclosure policy, and information that does not fit such criteria has footnotes added. This report also includes information on major activities executed in the first half of 2020. Reporting Scope The scope of information in this report encompasses the company headquarters, client center, domestic branch network, overseas subsidiaries and representative offices, and other areas where Mirae Asset Daewoo performs business activities.
    [Show full text]
  • Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES to INTERIM
    Samsung Electronics Co., Ltd. and its Subsidiaries NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. General Information 1.1 Company Overview Samsung Electronics Co., Ltd. (“SEC”) was incorporated under the laws of the Republic of Korea in 1969 and listed its shares on the Korea Stock Exchange in 1975. SEC and its subsidiaries (collectively referred to as the “Company”) operate four business divisions: Consumer Electronics (“CE”), Information technology & Mobile communications (“IM”), Device Solutions (“DS”) and Harman. The CE division includes digital TVs, monitors, air conditioners and refrigerators and the IM division includes mobile phones, communication systems, and computers. The DS division includes products such as Memory, Foundry and System LSI in the semiconductor business (“Semiconductor”), and LCD and OLED panels in the display business (“DP”). The Harman division includes connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company is domiciled in the Republic of Korea and the address of its registered office is Suwon, the Republic of Korea. These interim consolidated financial statements have been prepared in accordance with Korean International Financial Reporting Standards (“Korean IFRS”) 1110, Consolidated Financial Statements. SEC, as the controlling company, consolidates its 256 subsidiaries including Samsung Display and Samsung Electronics America. The Company also applies the equity method of accounting for its 41 associates, including Samsung Electro-Mechanics.
    [Show full text]
  • Mirae Asset Daewoo Annual Report
    Mirae Asset Daewoo Annual Report Depletive Anurag sometimes case-harden any wakers frown frighteningly. Is Rolf unsliced or Calvinism after lecherous Frederico sup so aesthetically? Motherless Kennedy restyling secantly or fornicates domestically when Udell is knottiest. Abcp purchase or is our head of data is probable that is outside sources outside director of entities and mirae asset daewoo annual report man choi serves under the financial Banking services commission may lead to kb insurance subsidiaries, under it is not available to oversupply of our overall needs, or as a lease. We base or omissions, has found anywhere, as issued shares at all customer base bonuses, inov as revenue per document may direct or both private sources. Kiểm tra và địa chỉ nhằm mục đích của mirae asset daewoo annual report, đã xảy ra không? Further korean financial services provided by each business and segments in derivatives within three size and annual report users is the group and entities with us and repurchase agreements we took into the alternative minimum spending. Insurance risk is classified by insurance price risk and policy reserve risk. Lee davidson is very excited to. Mirae hotels vinlandsagamangaonline. Furthermore, we, an updated underlying index value or IIV may not be calculated or publicly disseminated in extended trading hours. Chúng tôi phù hợp quá hạn của mirae. We also provide us. Hts được quản lý duy nhất và đầu tư bằng cách dễ dà ng hơn, mirae annual investors may not set.
    [Show full text]
  • Global Asset Management M&A Insight 2016
    Global Asset Management M&A Insight Winchester Capital 2016 I. BANNER YEAR FOR USA ASSET Chart I: US Asset Management Announced Acquisitions MANAGEMENT M&A TRANSACTIONS Volume and Value 2011-2015 2015 has been a banner year for asset management merger 160 30 and acquisition activity in the USA market. Total announced deal value in 2015 was a record $24.2 billion, an increase of $21.4 billion or 767% since 2011. The number of 150 22.5 announced transactions (149) is at its highest level in the last four years. This trend is expected to continue through 2016, 140 15 as current year-to-date announced transactions are forecasted to produce similar results. 2015 was also a record year for completed USD Billions No. of Transactions No. transaction value ($21.8 billion). Based on year-to-date transactions, 130 7.5 the total volume and value of completed transactions has softened, however, there are nearly 50 transactions totaling $11.5 billion that 120 2011 2012 2013 2014 2015 0 are pending completion which could markedly impact these year- to-date figures. The US market trend of continued growth is also Number of Transactions Transaction Value reflected in the global market. Source: Standard & Poor’s II. GLOBAL ASSET MANAGEMENT M&A MARKET Chart II: US Asset Management Completed Acquisitions Volume and Value 2011-2015 Over the past five years there have been over 3,000 acqui- sitions of asset management companies of varying size. 160 22 Of this amount, 10% have been made by publicly traded asset managers with market capitalizations greater than $1 billion.
    [Show full text]
  • Morning Focus
    January 3, 2018 KOREA Morning Focus Company News & Analysis Major Indices Close Chg Chg (%) POSCO (005490/Buy/TP: W450,000) KOSPI 2,479.65 12.16 0.49 Earnings to continue to climb higher KOSPI 200 326.00 1.26 0.39 KOSDAQ 812.45 14.03 1.76 Sector News & Analysis Turnover ('000 shares, Wbn) Volume Value Auto (Overweight) KOSPI 230,256 4,601 Auto sales end 2017 on a disappointing note KOSPI 200 70,198 3,653 KOSDAQ 977,967 6,567 Market Cap (Wbn) Value KOSPI 1,613,508 KOSDAQ 287,930 KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,149 1,019 130 Institutional 937 1,080 -143 Retail 2,448 2,475 -27 KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 448 361 87 Institutional 262 355 -93 Retail 5,861 5,840 21 Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,051 956 96 KOSDAQ 198 203 -5 Advances & Declines Advances Declines Unchanged KOSPI 498 305 76 KOSDAQ 834 337 80 KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Samsung Electronics 2,551,000 3,000 432 KODEX KOSDAQ150 20,440 640 264 LEVERAGE Daum Communications 146,500 9,500 193 SAMSUNG BIOLOGICS 389,500 18,500 156 Hynix 76,600 100 154 KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value SillaJen 102,500 9,000 670 Diostech 29,250 6,750 356 Celltrion Healthcare 106,700 -1,900 295 Sky Newpharm 7,580 1,340 269 Celltrion 225,900 4,800 261 Note: As of January 2, 2018 Mirae Asset Daewoo Research POSCO (005490 KS) Earnings to continue to climb higher Steel 4Q17 preview: Earnings improvement to continue Earnings Preview For 4Q17, we see POSCO’s non-consolidated operating profit coming in at W853bn January 3, 2018 (+18.1% QoQ, +74.7% YoY).
    [Show full text]
  • **Hana Annual-Main 1-52
    HANA FINANCIAL GROUP ANNUAL REPORT 2005 HANA FINANCIAL GROUP ANNUAL REPORT 2005 18th Fl., DI&S Bldg. 27-3 Yeouido-dong, Yeongdeungpo-gu, Seoul 150-705 TEL : (82-2) 2002-1110 Home Page : http://www.hanafn.com NEW START TO BE A 1LEADING FINANCIAL GROUP Contents 05 Financial Highlights 09 Shareholders Information 12 Letter to Shareholders 16 Corporate Timeline 20 Establishment of Hana Financial Group Inc. 22 Hana Financial Group at a Glance 24 Vision & Mission 26 Synergy 28 Business Portfolio | Commercial Banking | Private Banking | Brokerage | Asset Management | Investment Banking | Insurance | Credit Card 40 Commitment to Community 43 Recognition 44 Corporate Governance 45 Board of Directors 48 Leadership 50 Corporate Information 51 Financial Section 2 Financial Highlights 1. Business Volume 2. Earnings INNOVATION 3. Profitability 4 5 4. Asset Quality 5. Capital Adequacy ACHIEVEMENT 6 7 7 Shareholders Information Major Shareholders as of December 31, 2005 Name No. of Shares % Name No. of Shares % Goldman Sachs 19,077,762 9.34 NTC-GOVSPORE 3,341,326 1.64 TEMASEK 18,500,000 9.06 Dongbu Insurance Co., Ltd. 3,225,200 1.58 Templeton 16,607,231 8.13 Mirae Asset Securities Co., Ltd. 3,166,068 1.55 Allianz 9,894,000 4.84 CAPITALWORLDGROWTHAND 3,125,000 1.53 National Pension Fund 6,959,100 3.41 SSB-ARTISAN 2,864,480 1.40 POSCO 6,515,450 3.19 MSIL-SRINV(L)LTD 2,689,117 1.32 Korea Investment & Securities Co. 6,372,475 3.12 BONY-MATHEWS 2,341,231 1.15 MSIL-TOSCA 5,269,110 2.58 Korea Life Insurance Co., Ltd.
    [Show full text]
  • Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES
    Samsung Electronics Co., Ltd. and its Subsidiaries NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. General Information 1.1 Company Overview Samsung Electronics Co., Ltd. (“SEC”) was incorporated under the laws of the Republic of Korea in 1969 and listed its shares on the Korea Stock Exchange in 1975. SEC and its subsidiaries (collectively referred to as the “Company”) operate four business divisions: Consumer Electronics (“CE”), Information technology & Mobile communications (“IM”), Device Solutions (“DS”) and Harman. The CE division includes digital TVs, monitors, air conditioners and refrigerators and the IM division includes mobile phones, communication systems, and computers. The DS division includes products such as Memory, Foundry and System LSI in the semiconductor business (“Semiconductor”), and LCD and OLED panels in the display business (“DP”). The Harman division includes connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company is domiciled in the Republic of Korea and the address of its registered office is Suwon, the Republic of Korea. These interim consolidated financial statements have been prepared in accordance with Korean International Financial Reporting Standards (“Korean IFRS”) 1110, Consolidated Financial Statements. SEC, as the controlling company, consolidates its 252 subsidiaries including Samsung Display and Samsung Electronics America. The Company also applies the equity method of accounting for its 46 associates and joint ventures, including
    [Show full text]
  • Asia Strategy Structural Shift in Hong Kong/China Sectors
    [Hong Kong/China] Asia Strategy Structural shift in Hong Kong/China sectors Mirae Asset Securities (HK) Ltd. Mirae Asset Daewoo Co., Ltd. Joe Liew [email protected] Assisted by Jay (Jaeil) Lee [email protected] COVID-19 to affect economies Economic recovery to take longer than initially expected and markets for the rest of 2020 Despite some success in bringing the first wave of COVID-19 under control, we worry that countries around the world remain vulnerable to new waves of infections. To be sure, the first wave has yielded valuable lessons that should help to mitigate the economic impact of subsequent waves. Nevertheless, the recovery is likely to be more drawn out than many initially imagined. Even cities that enforced strict social distancing measures at the start of the crisis, including Beijing, Seoul, Melbourne, and Hong Kong, have begun to see new outbreaks in recent weeks. Structural shift: Inclusion of tech More Internet stocks likely to be included in HSI during upcoming review names to help HSI performance With regard to the pandemic’s impact on investing, the structural changes unfolding in consumption and work patterns have focused investor attention/fund inflows on the work- from-home theme (internet stocks being the most obvious example), and we expect this to continue. A key data point will be 2Q results to be released next month. Back-to-work stocks (e.g., the travel industry) will take longer to return to pre-pandemic levels. Note that even if a vaccine is found by year-end, it will take some time to roll it out on a large scale.
    [Show full text]
  • Victory Fund Holdings Victory Vif Sophus
    VICTORY FUND HOLDINGS As of June 30, 2021 VICTORY VIF SOPHUS EMERGING MARKETS MATURITY TRADED MARKET TRADED MARKET SECURITY DESCRIPTION DATE VALUE (BASE) VALUE (BASE) % ALIBABA GROUP HOLDING LTD ADR 1,972,532.44 4.25% BAIDU, INC. ADR 501,186.20 1.08% CEMEX DA - ADR 425,787.60 0.92% BANCO DE CREDITO E INVERSIONES 42.24 0.00% BANCO DE CHILE 222,461.14 0.48% CONTROLADORA VUELA CIA-ADR 252,035.20 0.54% VALE SA 519,202.93 1.12% GRUPO FINANCIERO BANORTE SAB DE CV 53,844.63 0.12% ALSEA SAB DE CV 191,300.90 0.41% PETROBRAS DISTRIBUIDORA SA 280,040.22 0.60% HDFC BANK, LTD. ADR 295,770.40 0.64% INFOSYS TECHNOLOGIES ADR 917,463.43 1.98% JD.COM INC 462,259.52 1.00% MYTILINEOS HOLDINGS SA 231,598.89 0.50% ASM PACIFIC TECHNOLOGY LIMITED 289,896.61 0.63% WALSIN TECHNOLOGY CORP 358,898.56 0.77% HINDUSTAN PETROLEUM CORP LTD 420,901.59 0.91% LIC HOUSING FINANCE LTD 347,677.95 0.75% TATA STEEL LTD 279,822.18 0.60% NMDC LTD 371,024.87 0.80% DB INSURANCE CO LTD 248,435.54 0.54% CJ CORP 218,169.43 0.47% CHINA AIRLINES LTD 237,394.11 0.51% NANYA TECHNOLOGY CORP 437,286.77 0.94% LG UPLUS CORP 400,318.87 0.86% INBODY CO LTD 147,250.34 0.32% EVERGREEN MARINE CORP TAIWAN LTD 550,999.17 1.19% FORMOSA PLASTICS CORP 266,092.71 0.57% FOSCHINI GROUP LTD/THE 78,224.61 0.17% SIAM COMMERCIAL BANK P-NVDR 302,348.74 0.65% MEDIATEK INC 586,318.72 1.26% SAMSUNG SECURITIES CO LTD 272,600.80 0.59% DR.
    [Show full text]