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Net assets of S. Korean funds rise in July

All News 11:45 August 08, 2018

SEOUL, Aug. 8 (Yonhap) -- Net assets of South Korea's funds increased in July on the back of the capital inflow into relatively safer bond-type products, data showed Wednesday.

The net asset of local funds grew 4.4 percent on-month, or 23.8 trillion won (US$21.25 billion), to come to 570.6 trillion won, according to the data compiled by the Korea Financial Investment Association (KOFIA).

By type, the net asset of stock funds inched down 1 percent from the previous month to come to 82.5 trillion won, as the net of the products that trace the local stock market suffered losses due to the bearish equity market performance, the capital market association said.

But the net asset of bond-type funds went up 2.3 percent, or 2.25 trillion won, to 101.2 trillion won in July.

The money market funds (MMFs) also led the overall upturn, as their net soared 19.7 percent in July to come to 126.9 trillion won, the KOFIA noted.

In all, the total value for local funds' products stood at 565.3 trillion won as of the end of July, up 4.5 percent from the previous month, the data showed.

"Investors seem to pick up more bond-type funds last month, which are deemed relatively safer, as persistent concerns over global trade disputes dragged down the local stock market," the KOFIA said in a release.

Net assets of S. Korean funds rise in July - 1


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