Bolton: Cost of Korean options has hurt performance

Bolton, who saw the trust's share price fall by 20% in the first six months of 2011 amid a declining market, said put options taken out on the Korean index were the largest negative contributor in the first full year of the trust's life. "One risk in the region that has particularly concerned me is the political situation between North and South Korea. We have seen several hostile acts from the North on the South and my concern is that, if this continues, next time the reaction of the South may be to retaliate. "Such an event I believe would, at least in the short term, be very worryi...