Funds' net asset value declines 5.1 pct in Q3 amid stock market volatility
SEOUL, Oct. 30 (Yonhap) -- The value of South Korea's investment funds fell 5.1 ...
South Korea's investment funds experienced a 5.1% decline in net asset value during the third quarter, according to data released on Friday. The net asset value of investment funds stood at 1,646.7 trillion won (US$1.2 trillion) at the end of September, marking an 87.8 trillion won decrease from the previous quarter. This marked the first quarterly decline since the second quarter of 2022, reported the Korea Financial Investment Association.
The decrease was primarily attributed to a 10.7% drop in net assets of exchange-traded funds (ETFs) to 457 trillion won. Despite the Korea Composite Stock Price Index (KOSPI) reaching the 9,000-point milestone in June, the index has been volatile since July, with the KOSPI falling 1.24% to close at 5,937.66 on Thursday.
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