CoreVest Partners sees Korean firms prosper


Korean companies that have captured the hearts and minds of Chinese consumers were among the top performers in the Korean long/short equity CoreVest Partners fund, up 5.78% for the month.

On the long side the fund also had exposure to extremely undervalued sectors such as non-life insurance stocks which were ignored in the early part of the year by momentum-driven local investors. Global risk aversion in April and May, however, re-rated these stocks, explains CoreVest Capital Management's K H Paik.

As for shorts, CoreVest has been consistently negative on industrial sector capital expenditure, but this only started to contribute to the