Equity fund investments up in Nov.

SEOUL, Jan. 1 (Yonhap) -- Outstanding equity fund investments grew at a faster
pace in November than a month earlier as stock markets seemed to be gaining some
stability, data showed Thursday.
According to the data provided by the Assent Management Association of Korea,
outstanding investments in equity-fund products through which investors put in a
fixed amount of money every month stood at 75.99 trillion won (US$60.35 billion)
as of the end of November.
The amount is up 432 billion won from a month earlier, with the monthly increase
sharper than a 40.5 billion won rise in the previous month.
Major banks, brokerages and insurers saw more inflows of money into their equity
fund products, according to the association. Of them, Mirae Asset ranked first by
luring a net 273.2 billion won for its products.
South Korean stocks suffered a highly volatile session throughout last year,
raising fears that a further decline could prompt a massive cash exodus from
equity fund products, which once helped boost the market above the 2,000-point
level.
The Kospi, the nation's benchmark index, lost around 40 percent last year after
plunging below 900 points in October. It gained some ground on bargain hunting in
recent months, closing the year at 1,124.47.
kokobj@yna.co.kr
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