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Officials of the Financial Services Commission (FSC) and the Korea Exchange (KRX) attend the opening ceremony of the Securities and Derivatives Markets for this year at the KRX head office in Seoul, South Korea, Jan. 2, 2013. (Xinhua/Park Jin Hee)
South Korea's fund market expanded last year due to an increase in inflow into money market funds ( MMF), financial derivative-linked funds and real estate funds that offset an outflow from stock-type funds, industry data showed Friday.
Net asset value of the total funds that invest in stocks and bonds reached 307.6 trillion won (288.94 billion U.S. dollars) as of the end of December, up 30.2 trillion won from a year earlier, according to data by the Korea Financial Investment Association ( KIFA).
The fund market size surged to 320 trillion won in 2007 when the KOSPI topped 2,000 points for the first time, but it contracted to 289.3 trillion won a year later in the wake of the global financial crisis.
Stock-type funds saw their invested money withdrawn as the KOSPI stayed in the range of 1,800 points to 2,000 points last year, but inflow into financial derivative-linked funds and real estate funds increased due to demand for excess rate of return. Stand-by funds flowed into the MMF amid lack of proper investment tools, the KIFA said.
By fund type, stock-type funds accounted for 28 percent of the total at the end of 2012, marking the highest portion. It was followed by MMF with 20.8 percent, bond-type funds with 15.4 percent and derivative-linked funds with 10.3 percent.
