The KB Value Focus Korea Equity Fund seeks long-term returns through investing primarily in undervalued Korean equity securities, focusing on stock selection rather than economic outlook or market indices. The fund holds around 92 stocks on average and invests in companies deemed undervalued relative to their intrinsic value and expected stable growth. Notable holdings include Com2uS Corp, NAVER Corp, and Korea Zinc Co Ltd.

1. KB Value Focus Korea Equity Fund
KB Value Focus Feeder Equity A
Factsheet | Data as of December 31, 2015
Investment Objective & Strategy
KB Value Focus Korea Equity Fund seeks an attractive long-term rate of return through
investment principally in Korea equity securities.
The Fund invests in stocks that are undervalued relatively to intrinsic values and that
are expected to see a stable growth. It focuses on stock selection rather than indices or
economic outlook. Portfolio composition and sector weights are results of stock
selection.
Contacts
KB Asset Management Co., LTD
E-mail: kbgm@kbfg.com
Tel: 82-2-2167-8200
25F, 70, Yeoui-daero, Yeongdeungpo-gu,
Seoul 07325, South Korea
Holdings-Based Style Trail
Time Period: 2011-02-28 to 2015-10-31
MicroSmallMidLargeGiant
Deep-Val Core-Val Core Core-Grth High-Grth
Portfolio Statistics
As of Date: 2015-10-31
Inv
P/B - Daily(Average)
P/C - Daily(Average)
P/E - Daily(Average)
P/EBITDA - Daily(Average)
P/FCF - Daily(Average)
P/S - Daily(Average)
# of Holdings(Average)
1.54
12.04
25.66
9.98
26.70
2.09
92.00
Overview
Primary Prospectus Benchmark
Base Currency
Morningstar Category
Fund Legal Structure
Fund Size(million USD)
Fund Size Date
Morningstar Rating Overall
Inception Date
Manager Name
KRX KOSPI Korea PR KRW
South Korean Won
Korea OE Korea Large-Cap Equity
Unit Trust
$ 1,339
2016-01-22
ÙÙÙÙÙ
2009-11-09
Woongpil Choi
Charges and Fees
※ Initial Distributor Charge: within 1% of subscription amount
※ Redemption Charge: 70% of profit (redemption within 90 days)
※ Total Fee: 1.410% (Management fee: 0.715%, Distributor fee:
0.650%, Others: 0.045%)
Investment Growth
Time Period: 2009-11-10 to 2015-12-31
Peer Group (5-95%): Open End Funds - Korea - Korea Large-Cap Equity Currency: US Dollar
Top Quartile 2nd Quartile 3rd Quartile Bottom Quartile
2010 2011 2012 2013 2014 2015
-25.0%
0.0%
25.0%
50.0%
75.0%
100.0%
125.0%
150.0%
175.0%
KB Value Focus Feeder Equity A KRX KOSPI Korea PR KRW
Risk-Reward
Time Period: 2011-01-01 to 2015-12-31
Currency: US Dollar Calculation Benchmark: KRX KOSPI Korea PR KRW
Std Dev(%)
0.0 4.0 8.0 12.0 16.0 20.0 24.0
-3.0
-1.0
1.0
3.0
5.0
7.0
9.0
KB Value Focus Feeder Equity A KRX KOSPI Korea PR KRW Korea OE Korea Large-Cap Equity
AnnualizedReturn(%)
Fund NAV as of December 31, 2015: 1,372 million USD
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.
Performance
As of Date: 2015-12-31 Currency: US Dollar Calculation Benchmark: KRX KOSPI Korea PR KRW
Return 1 Month 3 Months 6 Months YTD 1 Year 3 Years 5 Years Inception 2010 2011 2012 2013 2014
KB Value Focus Feeder Equity A
KRX KOSPI Korea PR KRW
Korea OE Korea Large-Cap Equity
-2.19%
-2.76%
-3.52%
1.01%
-16.32%
-10.05%
-1.10%
-2.20% -2.20%
-4.02% -4.02%
9.40%
1.75% -10.57%
-10.33%
-2.38% -2.38%
34.96%
-8.44%
-7.44%
-7.07% 296.98% 26.08%
123.85%
-11.83% 15.10% 2.53%
105.02%
-8.51%
50.51%
25.06%
2.21%
-12.30%
20.71%
17.70%
11.45%
2.17%
0.37%
-8.56%
Please read in full including Important Information.
Source: Morningstar Direct

2. Top 10 Holdings (Master Fund)
Portfolio Date: 2015-10-31
Equity
Style
Box
Position
Market
Value
(mil)
Portfolio
Weighting %
Com2uS Corp
NAVER Corp
Korea Zinc Co Ltd
Daelim Industrial Co Ltd
Dongwon Industries Co Ltd
Hyundai Livart Furniture Co Ltd
Muhak Co Ltd
GOLFZON Co Ltd
SK Hynix Inc
Hansol Chemical Co Ltd
Ë 104,213.81 4.99
É 93,892.80 4.50
È 66,712.18 3.19
Ê 65,752.87 3.15
Í 63,779.84 3.05
Î 61,120.89 2.93
Ë 60,745.44 2.91
— 60,471.17 2.90
Ç 58,434.72 2.80
Î 57,302.55 2.74
Leading Contributors
Time Period: 2014-11-01 to 2015-10-31
Portfolio: KB Value Focus Master Equity
Weights Return Contribution
Muhak Co Ltd
Hansol Chemical Co Ltd
Hyundai Livart
TongYang Life Insurance Co Ltd
Kona I Co Ltd
NCSoft Corp
Yuhan Corp
Kumkang Industrial Co Ltd
Nice Information Service Co Ltd
Korea Electric Power
3.90 36.07 8.01
2.71 65.84 3.11
2.30 6.01 1.08
0.68 31.77 0.75
0.47 41.09 0.74
0.52 42.94 0.64
0.40 45.37 0.58
0.49 31.94 0.49
0.13 81.74 0.44
0.44 21.79 0.41
Leading Detractors
Time Period: 2014-11-01 to 2015-10-31
Portfolio: KB Value Focus Master Equity
Weights Return Contribution
Com2uS Corp
SK Hynix Inc
Dongwon Industries Co Ltd
Golfzon Yuwon Holdings Co Ltd
KT Corp.
NAVER
Golfzon co Ltd
Kolon Industries Inc
Korea Zinc Co Ltd
FILA Korea Ltd.
3.21 -7.71 -2.15
1.36 -25.54 -2.14
3.78 -7.95 -1.95
2.48 -56.90 -1.59
1.25 -3.19 -1.13
2.65 -16.17 -1.07
1.92 -5.97 -0.86
1.75 -0.45 -0.69
2.17 -0.18 -0.65
2.79 -12.07 -0.57
Important Information
Prior to investing in the Fund, an investor should read and understand the prospectus and/or the summary
prospectus in full. The Korea Deposit Insurance Corporation does not protect this financial product under the
Depositor Protection Act. ※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.
Please note that the above data figures for Top 10 Holdings, Leading Contributors and Leading Detractors are based on KB Value Focus Master Equity.
Asset Allocation
Time Period: 2011-11-01 to 2015-10-31
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
2012-04 2012-10 2013-04 2013-10 2014-04 2014-10 2015-04 2015-10
Stock Bond Cash
Other
Equity Sectors (GICS)
Time Period: 2010-11-01 to 2015-10-31
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
2011 2012 2013 2014 2015
Energy % Materials % Industrials %
Consumer Discretionary % Consumer Staples % Healthcare %
Financials % Information Technology % Telecom Services %
Utilities %
Risk (1Y)
Time Period: 2015-01-01 to 2015-12-31
Currency: US Dollar Source Data: Total, Monthly Return Calculation Benchmark: KRX KOSPI Korea PR KRW
Std Dev
Beta
Alpha
Tracking Error
Sharpe Ratio
Up Capture Ratio
Down Capture Ratio
Up Number
Down Number
14.65
7.00
5.00
64.71
65.79
8.96
-0.09
0.93
0.75
Risk (Since Inception)
Time Period: Since Inception to 2015-12-31
Currency: US Dollar Source Data: Total, Monthly Return Calculation Benchmark: KRX KOSPI Korea PR KRW
Std Dev
Beta
Alpha
Tracking Error
Sharpe Ratio
Up Capture Ratio
Down Capture Ratio
Up Number
Down Number
18.94
48.00
25.00
64.55
101.58
8.67
0.79
10.24
0.85
Beta
Calculation Benchmark: KRX KOSPI Korea PR KRW
2011 2012 2013 2014 2015 YTD
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
Source: Morningstar Direct

3. Important Information(Cont.)
This material is for distribution to Professional Clients only and should not be relied upon by any other persons. KB Asset Management has not authorized
financial intermediaries to use and to distribute this document. KB Asset Management shall not be liable for, and accepts no liability for, the use or misuse of
this document by any such financial intermediary. This material is for general information purposes and subject to change.
All figures are in USD terms, net of fees, and gross of tax. The impact of the initial charge can be material on the performance of your investment. Current
performance may be higher or lower than the performance data shown. All portfolio holdings are subject to change. Indices are unmanaged and one cannot
invest directly in an index. Informational sources are considered reliable but KB Asset Management does not guarantee their accuracy or completeness.
This document does not contain a complete description of the Fund. It also does not purport to be a complete explanation of risks associated with an
investment therein and other risks may also be relevant from time to time. In the future the Fund may be exposed to risks that are currently difficult to
predict. Risks that are not described in it are considered as immaterial at the moment, but they may become substantial later on and adversely affect the fund.
These and other risks are described more fully in the Fund’s prospectus. KB Asset Management does not guarantee investment decisions and outcomes based
on the information of this material.
Source: Morningstar Direct