Seoul: The value of South Korea's investment funds increased 5.8 percent in the first quarter of the year from three months earlier, driven by an increase in bond investment, data showed Thursday.
According to Yonhap News Agency, the net asset value of South Korean investment funds reached 1,162.5 trillion won (US$816 billion) as of the end of March, marking an increase of 63.8 trillion won from the previous quarter. This growth was primarily fueled by significant investments in bonds.
The data from the Korea Financial Investment Association (KOFIA) indicated that the net assets of equity funds rose by 6.3 trillion won over the three-month period. Meanwhile, bond funds saw a substantial increase in net assets, rising by 20.1 trillion won.
Additionally, net assets of money market funds (MMFs), which primarily invest in short-term investment products, surged by 22.4 trillion won during the same period.
The first quarter also saw money inflows into MMFs and bond investment funds totaling 20.8 trillion won and 17.5 trillion won, respectively, while equity funds received inflows amounting to 9.1 trillion won, according to the data.