F.P. Report
SEOUL: South Korea’s overseas investment funds have attracted a record amount of money this year as investors are searching for higher returns abroad amid low interest rates at home, data showed Sunday.
The combined net worth of overseas funds came to 107.69 trillion won (US $ 98.79 billion) as of the end of November, according to the Korea Financial Investment Association (KFIA).
The amount has steadily increased this year to surpass the 100 trillion-won mark in late September for the first time, the association said.
The KFIA said institutions have expanded their investment in foreign real estate and special assets, such as airplanes and ships, over the past decade as part of efforts to diversify their global portfolio.
Foreign real estate funds drew a net 28.73 trillion won through November to account for 26.1 percent of the total, which was 66 times the investment from 2007, the association said.
Funds betting on special assets received 16.81 trillion won over the period, also skyrocketing from 78.1 billion won in 2007.
Overseas equity funds took in 17.43 trillion won, while investment in derivatives and bonds drew 12.65 trillion won and 8.7 trillion won, respectively, it added.
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