SEOUL, Dec. 11 (Yonhap) -- The value of South Korea's investment funds exceeded 660 trillion won (US$553 billion) last month, driven by an increase in money market funds and real assets funds amid lingering uncertainties from the Sino-American trade negotiations, data showed on Wednesday.
The net asset value (NAV) of the funds came to 663.3 trillion won as of the end of November, up 1.6 percent from the previous month, according to the Korea Financial Investment Association (KOFIA).
"The NAV of funds grew in November largely on a cash inflow into the money market funds (MMFs) and the real assets-related funds," KOFIA said, pointing out that the protracted U.S.-China trade war prodded investors to park more money in safer assets.
The benchmark Korea Composite Stock Price Index (KOSPI), which rose as high as 2,165.89 on Nov. 18 on an improved outlook in the chipmaking industry, dipped to the lowest 2,087.96 on Nov. 29 on rising fears that the U.S.-China trade deal may fall through.
Investors usually park their money in MMFs in times of increased uncertainties. MMFs saw an inflow of 5.0 trillion won last month, up 4.4 percent on-month, to reach 121.8 trillion won.
Real estate-related funds' net assets also gained 2.4 percent to 98.9 trillion won.
Over the same period, the net asset value of stock funds grew 2.6 percent on-month to 80.2 trillion won, while that for bond funds fell 0.8 percent to 122.3 trillion won.