This document provides key information about the KB Star Funds - KB Value Focus Korea Equity fund, including its objectives, investment strategy, risk profile, and charges. The fund seeks long-term capital appreciation by investing primarily in Korean companies using a value-oriented strategy. It may also invest in Korean bonds. The fund's benchmark is the KOSPI Index and risks include emerging market volatility and liquidity issues. Charges include estimated ongoing charges of 1.70% taken from the fund annually.
See the ESG score that CAM has for my Japan’s Universe.
It has 100 for each pilar, thus a perfect company should have 3 x 100 = 300. The average score for E is actually good, it has been higher compared to the S or G.
Knowing that many companies in their universe have a good E-score, the challenge they have is to find companies which also have a good S-score and G-score. The company with a nearly equal exposure to E,S,G is the firm that goes into the constituent of the fund, and they have been the driver for the fantastic performance.
Within 4 years, they achieved +33% above MSCI Japan or TOPIX.
At the same time, they also understand that the ESG score has helped them avoid the -38% compared to MSCI Japan.
Firms with negative outlook on their ESG activities will have difficulty to sustain the profitability of their business, and it will transformed as lower price for their stock.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
1. Key Investor Information
This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you
understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest.
KB Star Funds - KB Value Focus Korea Equity (the "Sub-Fund")
I Acc USD (LU1361298489) (the "Share Class")
A Sub-Fund of KB Star Funds (the "Fund")
Management Company: Carne Global Fund Managers (Luxembourg) S.A.
Objectives and Investment Policy
Objective
The objective of the Sub-Fund is to achieve long-term capital
appreciation. The Sub-Fund invests primarily in shares of
Korean companies. The Sub-Fund may also invest in
government bonds and corporate investment grade bonds
issued from South Korea as well as in other asset classes to
earn additional interest income.
Principal Investment Strategy
The Sub-Fund seeks capital appreciation by executing a
value-oriented strategy. Both value factors and growth
potentials are looked into simultaneously while sound
fundamentals lie at the core of the Sub-Fund's investment
approach. These methods encompass both conventional
intrinsic value analysis and growth-potential returns.
Distribution Policy
The Sub-Fund does not intend to distribute dividends. Any
income arising from the Sub-Fund's investment is reinvested
and reflected in the value of your shares.
Management Discretion
The Investment Manager has the discretion to buy and sell
investment on behalf of the Sub-Fund within the limits of the
Objective and Investment Policy.
Purchase and Sell
Shares can usually be bought and sold on any whole
business day on which banks and stock exchanges in
Luxembourg and the South Korea are open.
Benchmark
The benchmark of the Share Class is the KOSPI Index.
Risk and Reward Profile
Lower Risk Higher Risk
Potentially lower reward Potentially higher reward
1 2 3 4 5 6 7
The risk category may not be a reliable indication of the future
risk profile of the Sub-Fund, is not guaranteed and may
change over time.
The lowest category does not mean a "risk free" investment.
The Share Class is in this category because it can take higher
risks in search of higher rewards and its price may rise and fall
accordingly.
Within this classification, categories 1-2 indicate a low level of
historical fluctuations, 3-5 a medium level and 6-7 a high level.
The value of your investment may fall as well as rise and you
may get back less than you originally invested.
Emerging market Risk: Emerging markets may be more
volatile and it could be harder to sell or trade securities. There
may be less supervision, regulation and less well-defined
procedures than in more developed countries. Emerging
markets can be sensitive to political instability, which can result
in greater volatility and uncertainty, subjecting the Fund to the
risk of losses.
Liquidity Risk: Liquidity is a measure of how easily an
investment can be converted into cash. Under certain market
conditions assets may be more difficult to sell.
Currency Risk: Movements in currency exchange rates can
adversely affect the return of your investment.
Additional information on these and other risks associated with
an investment in the Fund can be found in the prospectus, in
the section entitled "Risk Considerations".
2. This Fund is authorized in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier.
Carne Global Fund Managers (Luxembourg) S.A. is authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier.
This Key Investor Information Document is accurate as at 05 April 2017.
Charges
The charges you pay are used to pay the costs of running the Sub-Fund, including the costs of marketing and distributing it. These
charges reduce the potential growth of your investment.
One-off charges taken before or after you invest
Entry charge None
Exit charge None
Charges taken from the Sub-Fund over a financial period
Ongoing charges 1.70 %
Charges taken from the Sub-Fund under certain specific
conditions
Performance Fee None
The ongoing charges figure shown here is an estimate of the
charges as the Share Class has not been priced for a full
financial year twelve months period.
The Fund's annual report for each financial year will include
details on the exact charges made. The amount charged may
vary from year to year.
More information about charges can be found in the "Charges
and Expenses" section of the Fund's prospectus.
Past Performance
▀ I Acc USD (LU1361298489) Fund Launch Date: 20.06.2016
The share/unit class has not yet been launched
Base currency of the Fund: USD
Past Performance of the Share Class is calculated in USD
Performance is calculated after deduction of ongoing charges
and is inclusive of gross income reinvested and gross of tax.
Any entry/exit charges are excluded from the calculation.
Past Performance is not a guide to future performance.
Practical Information
This Key Investor Information Document (KIID) is specific to
this Share Class. Other share classes are available for this
Fund as described in the Fund's prospectus.
Depositary Bank: HSBC Bank Plc, Luxembourg Branch
Further Information: Copies of the Prospectus and the latest
annual and semi-annual report, which are prepared for the KB
Star Funds are available in English. Other practical information
such as the latest net asset value of the shares, other share
classes of the Sub-Fund and other sub-funds of KB Star Funds
are also available in English. They can be obtained free of
charge from www.kbam.co.kr or from HSBC Bank Plc,
Luxembourg Branch and Carne Global Fund Managers
(Luxembourg) S.A..
Details of the up-to-date remuneration policy, including, but not
limited to, a description of how remuneration and benefits are
calculated, the identity of persons responsible for awarding the
remuneration and benefits, are available at
www.carnegroup.com under the section “Policies and
Procedures”. A hard copy version of the remuneration policy
will be made available free of charge upon request.
Conversion of Shares: Subject to conditions, you are entitled
to switch your shares in one Sub-Fund into shares of another
Sub-Fund or to request the conversion of your shares in one
share class into another share class of the same Sub-Fund,
which is subject to the payment of a conversion charge.
Please refer to the Fund's Prospectus for more information.
Tax Legislation: You should be aware that the tax legislation
of Luxembourg, the Fund's home state, may have an impact
on your personal tax position as an investor. Shareholders
who are not residents of Luxembourg may be taxed in
accordance with the laws of other jurisdictions. Before
investing in the Fund, investors should discuss with their tax
advisers the implications of acquiring, holding, transferring and
redeeming shares.
Liability: KB Star Funds may be held liable solely on the basis
of any statement contained in this document that is
misleading, inaccurate or inconsistent with the relevant parts of
the Prospectus for the Fund.
Umbrella Fund: This Key Investor Information Document
describes a Share Class of sub-fund of the Fund and the
Prospectus and period reports are prepared for the Fund as a
whole. The assets and liabilities of the sub-funds of the Fund
are legally segregated between each other.
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
-1000%
-800%
-600%
-400%
-200%
0%
200%
400%
600%
800%
1000%
Please note that there is not a complete calendar
year of performance available for this Share Class.