Stock funds fare badly on market volatility
[THE INVESTOR] Stock funds in Korea have fared poorly since the start of this year as the bourse experienced high volatility, a market tracker said on Feb. 13.
The average return of stock funds with a net asset of 1 billion won (US$923,000) or more came to minus 1.67 percent as of Feb. 9, according to financial information provider FnGuide.
Global equity markets have shown signs of a correction amid lingering concerns that the US Federal Reserve could hike its key rate at a faster pace than originally anticipated.
Taking a cue from global markets, the benchmark KOSPI has fallen about 4 percent since the start of this year.
In contrast, local funds for overseas stock investment have posted higher returns than ones focused domestically.
The average return of overseas stock funds came to 1.4 percent as of Feb. 9, according to FnGuide.
By Song Seung-hyun and newswires (firstname.lastname@example.org)