Dong-Ik Lee

Provides multi-line insurance services

KIC-IM is an active, long-term, value-oriented manager that invests in a range of securities that include not only traditional assets such as stocks and bonds but also alternative investments such as private equity, real estate, and hedge funds, as well as investments in inflation-linked bonds and commodity indexes to prepare for inflation and improve diversification. In 2010, they have also expanded the proportion of emerging markets. Based on thorough and systematic valuations, the firm invests in undervalued stocks based on intrinsic value. KIC-IM believes that the inefficiency of the market can create excess returns through research-based value investments. Their strategic asset allocation is finalized with the approval of the KIC’s top decision-making committee, the Steering Committee.

PAMC is an active, team-based, GARP-oriented investment manager. Their investment philosophy is to generate above-average returns with below-average volatility. They aim to build diversified portfolios that outperform indexes, and believe in asset management based on fundamental research. While the firm is primarily an active investor, they adapt their style according to types of funds. Their funds are composed mostly of stocks and bonds, while they also invest in derivatives and manage MMF. In addition to investing in Korea, they manage funds focused on the Eastern European, Chinese and Japanese capital markets. Other areas of expertise include investment in equity and fixed-income funds in blue-chip companies, growth/value firms, KOSDAQ-listed firms and the health care sector. PAMC's investment process is organized around fund management and research teams, with some autonomy on the fund managers' part. Their in-house research teams are specialized and independent from fund managers. Investment strategies are developed weekly based on macro research, after which the firm's Credit Research Team analyzes individual companies before making an investment decision. Their Stock Research Team manages model portfolios and tests results, while the Quantitative Research team follows a technical research approach to establish a long-term strategy. The firm's Risk Management Team monitors the operation and evaluates their funds and fund managers.