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Home > mk Business News 프린트 이메일 전송 리스트
Stock fund assets hit 5-year low
2013.02.07 17:38:41
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The combined assets managed by South Korea’s stock funds decreased to a more than five-year low in January, data showed Thursday, showing a slump in the local stock market.

[Stock fund assets hit 5-year low] 기사의 본문 이미지


The country’s equity funds came to 93.81 trillion won ($86.1 billion) in assets at the end of January, the lowest since 94.55 trillion won tallied at the end of October 2007, according to the data compiled by the Korea Financial Investment Association (KOFIA).

The figure fell to below 100 trillion won at the end of March and has remained below the mark for 11 straight months.

As a result, equity funds represented only 28.2 percent of all types of mutual funds, the lowest since 27.1 percent recorded at end-March 2009.

The average return of stock funds with assets worth more than one billion won stands at -2.43 percent from the beginning of this year.

In contrast, special asset funds, including oil field development funds, saw their assets increase sharply as investors put more money to the products to avoid taxes on financial income. Assets managed by special asset funds rose 868.3 billion won on-month to 24.21 trillion won last month.

[Written by Ji-hye Hwang / edited by Soyoung Chung]

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