Fund Manager:
Allianz Global Investors

Fund Name:
Allianz National Pension SRI Fund

Launch Date:
Apr-07

Screening (except economy):
Corporate governance

Key Characteristics:
The fund focuses on the companies that have been lagging the market or peers mainly due to their poor corporate governance and seeks upside potential of the companies they invest in through engaging in shareholder activism. 

The fund’s universe is composed of the following three categories:

1. Companies that have too much non-operating assets, so that the fund pushes them to clean their balance sheets, resulting in higher ROE;
2. Companies whose core businesses are profitable but have too many unprofitable business lines, so that the fund pushes them to streamline their businesses, resulting in higher profitability; and
3. Undervalued stocks of companies (mostly small-and med capitalization companies) due to the fact that their styles of management are not transparent and shareholder-oriented. The fund pushes them to change the attitude of top management, to enhance Investor Relation activities, to introduce shareholder-friendly management style and to increase transparency.

Asset Value:
KRW 50 billion