RCM Capital Management has named Kim Sang-Won as the new lead portfolio manager of its US-listed Korea Fund, taking over from Raymond Chan.

Hong Kong-based Kim was a member of the fund's portfolio management team since May 2007. Chan, who is also based in Hong Kong, remains the CIO of RCM Asia-Pacific and continues to oversee portfolio management for all equity portfolios.

Kim joined RCM Asia-Pacific in May 2007 as a portfolio manager for Korean equity portfolios. He has over 10 years of experience in researching and analysing companies in South Korea.

The Korea Fund is a non-diversified, closed-end investment company. It seeks long-term capital appreciation through investing primarily in equity securities trading on the Korean stock exchanges. As of July, the fund has $541 million in assets. Its top 10 holdings are Samsung Electronics, Posco, KT& Corporation, Shinhan Financial, Daewoo International, KT Corporation, Dongkuk Steel Mill, Hyundai Engineering and Construction, Samsung C&T, and Hynix Semiconductors.

The decision to hand over the Korea FundÆs management to Kim comes after RCM in Hong Kong obtained a discretionary investment-management business license in South Korea in February this year. That license allows RCM to directly market its global suite of investment products to local institutional investors.

RCM Capital Management and RCM Asia-Pacific are the fund's investment manager and sub-adviser, respectively. RCM Capital Management is a wholly-owned subsidiary of Allianz Global Investors.