FSS chief urges AMCs to regain investors’ trust
[THE INVESTOR] The head of the Financial Supervisory Service on April 13 called for asset management companies to do more to regain the confidence of investors and make better investment returns.
FSS Gov. Kim Ki-sik made the remarks at a meeting with chief executives of asset management firms earlier in the day, the FSS said in a statement.
Kim said the FSS will ease some regulations for asset management firms to help protect investors and look for better returns. He urged them to play a significant role to promote the nation‘s capital markets.
The annual return rate of the retirement pension funds averaged 1.88 percent last year, up 0.3 percentage point from the previous year. It was lower than the return rate of 2.39 percent for the past five years.
Mutual funds accounted for 5.2 percent of the investment portfolios managed by retirement pension funds, Kim said.
AMCs need to introduce various products to meet demand from retirement pension funds, Kim said.
By Song Seung-hyun and newswires (firstname.lastname@example.org)