Kb star factsheet apr 2019 201905

1. Key Information | 30 April 2019
KB Star Funds – KB Value Focus Korea Equity Fund Reporting Currency: USD
Share Class: X ACC USD
Fund Summary
Investment Philosophy
% 1M 3M 6M YTD 1Y 2Y Incep
-1.04 3.56 15.41 7.45 -7.12 6.50 4.35
0.03 -4.81 5.91 3.13 -19.90 -1.35 3.56
-1.06 8.37 9.50 4.32 12.78 7.85 0.78
Source: Morningstar, Data as of 30 April 2019
Fund Facts Cumulative Growth Since Inception
ISIN/BB ticker LU1361298729
Primary Benchmark KOSPI
Domicile Luxembourg
Base Currency USD
Fund Legal Structure UCITS SICAV
Fund Size USD 59.52 mil
Inception Date
Manager Name Woongpil Choi
Portfolio Statistics
Portfolio PER 11.01
Portfolio PBR 1.16
Turnover Ratio (1Y) 47.99
Standard Deviation (%) 11.17 * KB Value Focus Korea Equity Fund has been managed by the same manager since inception
Beta (1Y) 0.82 Source: Morningstar, Data as of 30 April 2019
Sharpe Ratio (1Y) -0.35
Information Ratio (1Y) 1.12 투자광고2019_195(다)
Source: KB StarM, Statpro Data as of
30 April 2019
*Uses Trailing Basis
• Focusing on stock selection, not on
forecasting market outlook
Fund Performance over Benchmark
KB Star Fund is managed with the
identical investment strategy and the
portfolio manager as South Korea-
domiciled KB Value Focus Fund
• Focusing mainly on value stocks,
emphasizing earnings value as well
• While maintaining a long-term
perspective, engaging in active trading
upon significant price changes
• Investing in stocks with upside
potential rather than blindly following
the benchmark index
Morningstar Category EAA OE Korea Equity
2016-06-21
Name
Cumulative
Return (%)
※ Performance data quoted represents past performance and is no guarantee of future results.
Current performance may differ from figures shown.
The fund offers other share classes subject to different fees and expenses, which will affect their
performance; thus, actual returns may differ.
Initial Ending Value
KB STAR 12.92 4.35 10,000.00 11,291.94
Annualized
Return (%)
KOSPI 10.53 3.56 10,000.00 11,052.97
KB Star
KOSPI
Diff
-1.06
8.37 9.50
4.32
12.78
7.85
0.78
-25 %
-20 %
-15 %
-10 %
-5 %
0 %
5 %
10 %
15 %
20 %
1M 3M 6M YTD 1Y 2Y Inception
KB Star KOSPI USD Diff
-20 %
-10 %
0 %
10 %
20 %
30 %
40 %
50 %
2016-06
2016-07
2016-08
2016-09
2016-10
2016-11
2016-12
2017-01
2017-02
2017-03
2017-04
2017-05
2017-06
2017-07
2017-08
2017-09
2017-10
2017-11
2017-12
2018-01
2018-02
2018-03
2018-04
2018-05
2018-06
2018-07
2018-08
2018-09
2018-10
2018-11
2018-12
2019-01
2019-02
2019-03
2019-04
KB STAR KOSPI
INTERNAL USE ONLY

2. Key Information | 30 April 2019
Breakdown by Cap Size Bottom-up Performance Attribution Decomposition
Source: KB StarM, Data as of 31 March 2019
Top 10 Holdings %
Portfolio BM Source: Statpro, 01 April 2018 ~ 31 March 2019
HANSOL CHEMICAL CO. LTD. 6.97 0.06 Bottom-up Stock Picking Effect Decomposition
Y G 1 COMPANY 6.50 0.00
KOREA ZINC 6.46 0.55
FILA KOREA LTD 6.35 0.18
SK HOLDINGS CO. LTD 6.33 1.33
SOUTH KOREAN WON 5.84 0.00
COM2US CORPORATION 4.29 0.00
MERITZ FIRE & MARINE INS CO 3.17 0.16
DOOSAN BOBCAT INC 2.93 0.23
DONG - A PHARMTECH CO LTD 2.57 0.00
Sector Allocation % Source: Statpro, 01 April 2018 ~ 31 March 2019
Portfolio BM Fund Contribution by Sector
Materials 25.30 9.10
Industrials 18.57 13.95
Consumer Discretionary 15.21 11.70
Cash 9.05 0.00
Financials 9.02 11.74
Telecommunication Services 6.22 6.97
Health Care 5.54 6.07
Information Technology 4.20 28.09
Consumer Staples 3.64 7.84
Real Estate 3.24 0.18
Energy 0.00 2.45
Utilities 0.00 1.92
Source: KB StarM, Data as of 31 March 2019
Source: Statpro, 01 April 2018 ~ 31 March 2019
Important Information
22.89
Weight (%) KOSPI KOSDAQ
Large Cap 26.09 0.00
※ Prior to investing in the Fund, an investor should read and understand the prospectus in full. The past performance of the
collective investment scheme does not guarantee a return on investment for the future. Changes in the rates of exchange
between currencies may cause the value of investment to fluctuate or result in loss of principal. There is a risk of loss of the
invested principal in the collective investment scheme depending upon the result of its management and that such loss shall be
imputed to investors. The portfolio information is shown for illustrative purposes only. The inclusion of the securities mentioned
above is not to be interpreted as solicitations or recommendations to buy or sell. It is subject to be changed without notice.
Stock
GICS Sector
Middle Cap 27.36 9.55
Small Cap 14.11 Stock Timing and Trading Effect
Stock Picking Effect
0.58 %
-0.39 %
9.49 %
0.68 %
-2 % 0 % 2 % 4 % 6 % 8 % 10 %
Stock Exclusion Effect
Underweight Stock Effect
Overweight Stock Effect
Stock Addition Effect
10.35 %
-0.55 %
10.90 %
-2 % 0 % 2 % 4 % 6 % 8 % 10 % 12 %
Stock Picking Effect
Stock Timing and Trading Effect
Stock Allocation Effect
7.68 %
1.21 %
1.02 %
0.38 %
0.02 %
0.00 %
0.00 %
0.00 %
-0.08 %
-0.09 %
-0.36 %
-3.78 %
-7.63 %
-15 % -5 % 5 % 15 %
Consumer Discretionary
Health Care
Financials
Information Technology
Materials
Unclassified
Utilities
Cash
Energy
Real Estate
Consumer Staples
Telecommunication Services
Industrials
KBVF
Benchmark

3. Key Information | 30 April 2019
BEST Additions BEST Exclusions
BEST Overweighed Securities WORST Overweighed Securities
Source: Statpro, 01 April 2018 ~ 31 March 2019
Monthly Fund Commentary Contact Information
KB Asset Management
Global Investment Division
Global Business Team
kbgm@kbfg.com
Jaesub, Lee
E-Mail:
jaesub.lee@kbfg.com
Tel: +82-2-2167-8736
Seunghwan, Lim
E-mail:
seunghwan.lim@kbfg.com
Tel: +82-2-2167-8204
Outlook
In a situation where variables surrounding global economic conditions, including the US-China trade negotiations are
growing, corporate fundamentals will be the most important determinant of share performance. In particular, we believe
that there are differences in measuring fundamentals based on expectations, such as bottoming out earnings and re-
valuation of some sectors based on leading stocks. Naturally, based on these expectations, stocks will be divided between
those who show a rise in stock prices and those who don't.
In this situation, we may be able to expect a rise in the fund's return on the back of expectation, but we believe that the
bubble has not yet formed in the valuation. Accordingly, we plan to manage the fund through portfolio adjustment, such as
reduction of the portion of stocks whose stock price has risen and expansion of the proportion of stocks that are
significantly undervalued against corporate value, even under conservative assumptions. We believe it is important to
manage the fund by looking at long-term rather than short-term volatility.
Two big trends dominated the market. The first was that the pace of
economic growth in Europe, China and Japan, excluding the United States, is
clearly slowing, the supply of liquidity in these countries and expectations of
slower rate hike in the United States are reflected in the market. The second
was the volatility of the market as companies reported their first-quarter
earnings. Noteworthy was that some companies, especially semiconductors,
have risen due to the consensus that semiconductor has bottomed out. In
addition, the possibility of investment expansion can be seen and related
stocks are showing a rebound. However, uncertainty about the timing and the
variation has also increased.
Value focus fell by 1.04% during the month and underperformed the KOSPI by
1.06% while the KOSPI rose by 0.03%. Dong Pharmtech, Fila Korea and Hansol
Chemical contributed to the rise, while Meritz Financial Group, Com2us and
Hyosung Corp. contributed to the decline.
41F, Three IFC 10,
Gukjegeumyung-ro,
Yeongdeungpo-Gu, Seoul 07326,
Korea
2.15 %
1.30 %
0.76 %
0.25 %
0.21 %
0 0.5 1 1.5 2 2.5
DONG - A PHARMTECH CO LTD
SBI FINTECH SOLUTIONS CO.…
SEOUL AUCTION CO LTD
DAIBECK ADVANCED…
SOUTH KOREAN WON
0.67 %
0.42 %
0.30 %
0.29 %
0.26 %
0 0.2 0.4 0.6 0.8
ORCHEM CO LTD
SAMSUNG BIOLOGICS CO LTD
AMOREPACIFIC CORP (NEW)
KB FINANCIAL GROUP INC.
AMOREPACIFIC GROUP INC
7.07 %
1.75 %
0.91 %
0.81 %
0.68 %
-2 0 2 4 6
FILA KOREA LTD
HANSOL CHEMICAL CO. LTD.
MERITZ FIRE & MARINE INS…
KOREA ZINC
DOOSAN BOBCAT INC -1.76 %
-0.64 %
-0.29 %
-0.24 %
-0.23 %
-2 -1.5 -1 -0.5 0
HYOSUNG CORP
WOONGJIN THINKBIG CO LTD (NEW)
HANKOOK TIRE CO LTD (NEW)
KCTECH CO. LTD.
LUCKY-GOLDSTAR
% %
% %