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S. Korea's stock funds return 4 pct on year-end rally

All Headlines 10:11 January 04, 2017

SEOUL, Jan. 4 (Yonhap) -- South Korea's stock funds posted nearly 4 percent returns over the past month on the year-end rally of local shares, a fund evaluator said Wednesday.

The average one-month return of stock funds here with net assets of 1 billion won (US$820,000) or more, excluding exchange traded funds (ETFs), came to 3.9 percent as of Monday, according to Zaroin.

It is higher than 0.35 percent recorded by local bond funds and also in contrast to a 1.2 percent loss of foreign stock funds over the same period.

Market watchers noted the year-end rally of South Korean stocks, which had stayed in a tight range for previous months.

In fact, the one-year average return of the stock funds stood at 0.62 percent.

"Political risks dwindled late last year as the motion to impeach President Park Geun-hye passed the National Assembly," said Oh On-soo, a KB Securities analyst. "Last year, South Korea's stock market went through a process of becoming on par with global peers on the prospects that listed firms reaped record high earnings of an estimated 150 trillion won."

An image of stock funds (Yonhap)

lcd@yna.co.kr
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