The Fund’s regional South Korean banks, DGB Financial Group and BS Financial, were two of the top-performing stocks for the recent quarter. We believe that strong economic growth in DGB (XKRX:139130)’s primary business region and a current undervaluation of the stock adds to DGB’s attractiveness. (DGB, like BS, should also benefit from interest rate normalization.)
From David Herro (Trades, Portfolio)'s Oakmark International Small Cap Fund Third Quarter 2014 Letter.
