Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

Korea National Pension Fund (KNPF), the third largest pension fund in the world, has been exerting more pressure on Korean companies to raise their dividends. What is interesting is the fact that about a year ago, KNPF designated 17 companies with poor dividend payout, giving them "yellow card" marks for poor dividend policy. Some of these companies (including <a href="https://www.smartkarma.com/entities/9719" target="_blank" data-smartkarma-citation="entities:9719">Cj E&amp;M Corp</a> , <a href="https://www.smartkarma.com/entities/6089" target="_blank" data-smartkarma-citation="entities:6089">Hyundai Mobis Co Ltd</a> , <a href="https://www.smartkarma.com/entities/19560" target="_blank" data-smartkarma-citation="entities:19560">Hyundai Greenfood Co Ltd</a> , <a href="https://www.smartkarma.com/entities/18549" target="_blank" data-smartkarma-citation="entities:18549">Hanmi Science Co Ltd</a> , <a href="https://www.smartkarma.com/entities/6291" target="_blank" data-smartkarma-citation="entities:6291">Taekwang Industrial Co Ltd</a> , <a href="https://www.smartkarma.com/entities/16251" target="_blank" data-smartkarma-citation="entities:16251">Nexen Corp</a> , <a href="https://www.smartkarma.com/entities/3306" target="_blank" data-smartkarma-citation="entities:3306">Lotte</a>…

Korea National Pension Fund (KNPF), the third largest pension fund in the world, has been exerting more pressure on Korean companies to raise their dividends. What is interesting is the fact that about a year ago, KNPF designated 17 companies with poor dividend payout, giving them "yellow card" marks for poor dividend policy. Some of these companies (including Cj E&amp;M Corp , Hyundai Mobis Co Ltd , Hyundai Greenfood Co Ltd , Hanmi Science Co Ltd , Taekwang Industrial Co Ltd , Nexen Corp , Lotte…

How Korea National Pension Fund Is Exerting Pressure on Companies to Raise Dividends

Global Asset Allocation, Politics & Governance, Ecstrat

John-Paul Smith

Global Asset Allocation, Politics & Governance

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
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More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Cross Asset Strategy

Our bearish outlook for 2016 predicated on the rising risk of a “sudden stop” for China and uncontrolled FX depreciation across EM is unfortunately starting to play out; although markets currently feel very oversold and could rally sharply over the short term, we believe that there is further downside for EM equities in absolute and relative terms over the remainder of the year.

Our bearish outlook for 2016 predicated on the rising risk of a “sudden stop” for China and uncontrolled FX depreciation across EM is unfortunately starting to play out; although markets currently feel very oversold and could rally sharply over the short term, we believe that there is further downside for EM equities in absolute and relative terms over the remainder of the year.

South Korea

Korea Electric Power Corporation (KEPCO) generates, transmits, and distributes electricity to South Korea for a variety of uses. The Company also builds and operates hydro-power, thermal-power, and nuclear power units in South Korea.

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Korea Electric Power (KEPCO) (015760 KS)

How Korea National Pension Fund Is Exerting Pressure on Companies to Raise Dividends

Korea National Pension Fund (KNPF), the third largest pension fund in the world, has been exerting more pressure on Korean companies to raise their...

Douglas Kim

China and the EM Ugly Contest

Our bearish outlook for 2016 predicated on the rising risk of a “sudden stop” for China and uncontrolled FX depreciation across EM is unfortunately...

John-Paul Smith

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)