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Biz News Korea(Eng)

Korea’s non-taxable foreign equity fund attracts $800 mn

Collected: 2016.11.12

Distributed: 2016.11.14

Source: Go Direct

South Korea’s non-taxable foreign equity fund products have attracted 934.2 trillion won ($800.5 million) in just eight months since the country’s brokerage houses introduced them.

According to Korea Financial Investment Association on Friday, the total volume of non-taxable foreign equity funds sold in the country between February 28 and October 31 reached 934.2 trillion won. The non-taxable foreign equity fund offers tax exemption benefits on returns from trading stocks listed on foreign exchange markets as well as valuation and foreign exchange gains.

The product that invests in Chinese stocks pulled in the largest investment funds with 181.1 trillion won followed by Vietnam with 161.7 billion won and undefined foreign stock markets with 124.3 billion won. The fund investing in the U.S. stocks attracted 25.8 billion won.

By product, Korea Investment & Securities Co.’s Vietnam Growth Fund was the largest with 136.0 billion won.

Among the top 10 funds based on sales volume, the funds that invested in stocks listed on Chinese stock markets delivered the highest returns.

By Ko Min-suh

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