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Stock funds hemorrhaging on market crash

All News 14:35 March 10, 2020

SEOUL, March 10 (Yonhap) -- South Korean equity investment funds have been bleeding profusely over the past month amid stock market routs at home and abroad, data showed Tuesday.

The average yield of 961 domestic stock investment funds with a net asset value of 1 billion won (US$839,000) or more came to minus 7.92 percent in the one-month period to Monday, according to the data from market tracker FnGuide.

The figure contrasts with the average return of 4.04 percent for the last six months and 0.42 percent for the past three months.

The average return of 784 overseas equity-linked investment funds stood at minus 3.74 percent during the past one-month period.

Stock funds hemorrhaging on market crash - 1

Brazil-focused funds chalked up the lowest returns of minus 15.92 percent, followed by those for Japanese stocks with minus 15.08 percent and those for Latin American equities with 13.38 percent.

In contrast, China-centered stock funds yielded 3.01 percent over the cited period.

Equity funds' dismal performance comes as stock markets across the globe have been in a tailspin in the wake of the coronavirus outbreak and falling oil prices.

The data also showed funds investing in domestic and overseas stocks recorded an average return of 0.55 percent and 0.39 percent, respectively, over the past month.

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