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THIS MATERIAL IS A MARKETING COMMUNICATION.

Portfolio Manager Story

Phil S. LEE recalls he learned most of his skillsets for stock investment during his undergraduate years in Seoul National University. Rather, it was not from any investment lectures nor any mentors. Oddly enough, it was from his 3-year experience as a staff writer at a University newspaper.

The journalist experience should not have been relevant to stock investments but he believes that working as a journalist was a tremendous and invaluable training course for his investment skills.

As a freshman, he joined as a staff writer at the University newspaper with dreams of becoming a journalist; he spent three years in the department before becoming promoted as the chief editor. It was quite hard core work conditions, as he had to spend more than 40 hours a week in order to make and edit 16 pages of a weekly newspaper. It should have been very stressful; however, the skillset he learned during that period was enormously beneficial to his future career path.

Firstly, print newspaper was time consuming and had space constraints (at that time, digital newspapers did not exist). He learned how to quickly catch the core meaning of an event and how to deliver the message clearly and efficiently to readers. Later, he realized it was a critical skillset in the stock research field, where portfolio managers needed to make bold decisions in a relatively short period of time, after analyzing complicated events.

Secondly, he learned lessons from his experience as a chief editor. Editors should be mindful of balances in which articles should be placed on the front head line, cover and following pages. Also he should generate featured articles in different sections. He found editing has many common elements with portfolio construction. The portfolio should hold core stocks (headline article) while also being diversified into different themes (featured article) to manage risk.

The skillset of writing, editing and debating (as a staff writer) later equipped him to excel in stock research.

While he gained his stock investment skillset from his time as a journalist, he recalls his training in the development of stock insights had mainly been attributed to Hyeon Joo Park, the founder of the Mirae Asset Group and an inspirational figure to Phil. Mr. Park is a well-known legendary entrepreneur and billionaire who has built one of Asia’s largest Asian heritage asset managers from scratch. Mr. Park was also a famous investor in the 1990’s and early 2000’s.

Phil first started his professional career at a sell-side brokerage firm where he published his first stock research paper within 10 month of joining. Mr. Park and his team were thoroughly impressed with the paper and decided to scout the young talent soon after.

Over the past 15 years, Phil had been provided enormous opportunities to communicate with Mr. Park directly, who taught him invaluable skillsets and insights. He recalls his learnings from Mr. Park were centered on how to find real competitive and innovative stocks among elusive ones. It may be easy to say that anyone adopts a growth style investment but it may be more difficult to select the right growth stocks. The key taking that Phil learned from Mr. Park was that growth stocks should be centered on a company’s global competitiveness.

Phil and his team’s devotion to uncover genuine growth stocks in different business cycles and conditions have helped differentiate the Mirae Asset funds among peers.

Phil continues his passion to write and is still an active columnist at a Korean newspaper reporting on investment issues.


Disclaimer & Information for Investors

No distribution, solicitation or advice: This document is provided for information and illustrative purposes and is intended for your use only.  It is not a solicitation, offer or recommendation to buy or sell any security or other financial instrument. The information contained in this document has been provided as a general market commentary only and does not constitute any form of regulated financial advice, legal, tax or other regulated service.

The views and information discussed or referred in this document are as of the date of publication. Certain of the statements contained in this document are statements of future expectations and other forward-looking statements.  Views, opinions and estimates may change without notice and are based on a number of assumptions which may or may not eventuate or prove to be accurate. Actual results, performance or events may differ materially from those in such statements. In addition, the opinions expressed may differ from those of other Mirae Asset Global Investments’ investment professionals.

Investment involves risk: Past performance is not indicative of future performance. It cannot be guaranteed that the performance of the Fund will generate a return and there may be circumstances where no return is generated or the amount invested is lost. It may not be suitable for persons unfamiliar with the underlying securities or who are unwilling or unable to bear the risk of loss and ownership of such investment. Before making any investment decision, investors should read the Prospectus for details and the risk factors. Investors should ensure they fully understand the risks associated with the Fund and should also consider their own investment objective and risk tolerance level. Investors are advised to seek independent professional advice before making any investment.

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Information for EU investors pursuant to Regulation (EU) 2019/1156: This document is a marketing communication and is intended for Professional Investors only. A Prospectus is available for the Mirae Asset Global Discovery Fund (the “Company”) a société d'investissement à capital variable (SICAV) domiciled in Luxembourg structured as an umbrella with a number of sub-funds. Key Investor Information Documents (“KIIDs”) are available for each share class of each of the sub-funds of the Company.

The Company’s Prospectus and the KIIDs can be obtained from www.am.miraeasset.eu/fund-literature . The Prospectus is available in English, French, German, and Danish, while the KIIDs are available in one of the official languages of each of the EU Member States into which each sub-fund has been notified for marketing under the Directive 2009/65/EC (the “UCITS Directive”). Please refer to the Prospectus and the KIID before making any final investment decisions.

A summary of investor rights is available in English from www.am.miraeasset.eu/investor-rights-summary.

The sub-funds of the Company are currently notified for marketing into a number of EU Member States under the UCITS Directive. FundRock Management Company can terminate such notifications for any share class and/or sub-fund of the Company at any time using the process contained in Article 93a of the UCITS Directive.

Hong Kong: This document is intended for Hong Kong investors. Before making any investment decision to invest in the Fund, Investors should read the Fund’s Prospectus and the information for Hong Kong investors (of applicable) of the Fund for details and the risk factors. The individual and Mirae Asset Global Investments (Hong Kong) Limited may hold the individual securities mentioned. This document is issued by Mirae Asset Global Investments (HK) Limited and has not been reviewed by the Securities and Futures Commission.

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