Korean investment funds saw their influence on the bourse continue to drop over the past years to a 13-year low in 2017, industry data showed on March 9.
Shares held by such funds accounted for 4.27 percent of the stock market capitalization as of the end of 2017, according to the data from the Korea Financial Investment Association. On a year-end basis, it was the lowest level since the 3.25 percent recorded in 2004.
With investment funds gaining popularity among investors, their share had been on the rise since 2004 before peaking at 9.63 percent at the end of 2008. The figure, however, has been on the skids since then in the wake of the global financial crisis.
The amount of money trusted with stock investment funds. The amount of assets managed by stock funds came to 78 trillion won (US$72.80 billion) as of the end of last year, compared with 140 trillion won in 2008.
Meanwhile, investment funds held bonds accounting for 9.21 percent of the total bonds listed as of end-2017, compared with 10.8 percent a year earlier.
By Song Seung-hyun and newswires (email@example.com