South Korean funds for overseas stock investment have continued to attract money this year thanks to strong bourses in Vietnam, Brazil and other emerging markets, data showed Sunday.
The net money inflow into overseas equity-linked investment funds stood at 1.75 trillion won ($1.62 billion) this year as of Thursday, according to data from market tracker KG Zeroin.
Those funds brought in more than 1 trillion won in January alone, with the net inflow reaching over 420 billion and 260 billion won in February and March, respectively, despite increased market volatility.
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(Yonhap) |
The amount is more than double the 839 billion won that flowed into domestic stock investment funds during the cited period.
KG Zeroin attributed the continued net inflow into overseas stock funds to the stellar performance of stock markets in Vietnam and other emerging markets.
Vietnam's benchmark stock index has spiked 18.8 percent this year, the best performer among major bourses around the globe.
Brazil's key stock index came next with a gain of 11.2 percent.
Investment funds focused on Vietnamese stocks have tallied a net inflow of nearly 610 billion won this year, accounting for 35 percent of the total.
The continued money inflow into overseas stock investment funds comes despite the recent abolition of tax breaks for them. In March last year, South Korea introduced tax-exempt overseas investment funds, but abolished them at the end of last year. (Yonhap)
