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Net assets of S. Korean funds fall over trade war woes

All Headlines 11:15 July 11, 2018

SEOUL, July 11 (Yonhap) -- Net assets of South Korea's funds decreased in June, data showed Wednesday, amid concerns over global trade frictions and the subsequent downward pressure on the stock market.

The total value for local funds' products stood at 54.67 trillion won (US$48.73 billion) as of the end of June, down 1.6 percent from the previous month, according to the data compiled by the Korea Financial Investment Association (KOFIA).

By type, the net assets of stock funds fell 1.2 trillion won, or 1.4 percent on-month, to come to 83.3 trillion won, as their losses in value effectively offset net capital inflows.

The net of money market funds (MMFs) skidded 10.2 percent on-month in June to come to 106.1 trillion won due mainly to the outflow of corporate capital.

The net assets of bond-type funds, however, inched up 0.4 percent to 99 trillion won last month, according to the KOFIA.

"Concerns over a trade war between the U.S. and China caused a rout in the global stock market, which is attributable to the weakness in the local fund market," the KOFIA said in a release.

Net assets of S. Korean funds fall over trade war woes - 1

graceoh@yna.co.kr
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