Performance

Truston Korea fund survives August onslaught

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Despite the steep 11.86% decline of the Korean stock market in August, the Truston Dynamic Korea Fund continued to generate positive USD and KRW gains of 0.23% and 1.42%, respectively.

Portfolio manager Moo Kwang Lee attributed the solid performance to a thoughtful stock selection on both the long and short sides. The fund gained from shorting the KOSPI Index Futures, LG Chemical, Samsung Electronics, and Hyundai Motor, but returns were reduced as a result of long positions in stocks such as Honam Petrochemical and Hynix Semiconductor.

Lee says that the firm reduced leverage during the month, which proved