fund assets-Q3 tally

SEOUL, Oct. 30 (Yonhap) -- The value of South Korea's investment funds fell 5.1 percent in the third quarter from three months earlier, data showed Friday, amid volatility in the stock market.

The net asset value of investment funds came to 1,646.7 trillion won (US$1.2 trillion) as of end-September, down 87.8 trillion won from the second quarter of this year, according to the Korea Financial Investment Association.

It was the first time since the second quarter of 2022 that the net asset value of investment funds fell on a quarterly basis.

The decline came as net assets of exchange-traded funds (ETFs) dipped 10.7 percent from three months earlier to 457 trillion won.

An ETF refers to an investment fund traded on stock exchanges and investments in a basket of stocks that track an index or commodities and bonds.

The nation's benchmark Korea Composite Stock Price Index (KOSPI) hit the 9,000-point milestone in June, but has seen sharp swings and high volatility since July. The KOSPI fell 1.24 percent to close at 5,937.66 on Thursday.

(END)

[Copyright ⓒ K-VIBE. All rights reserved. Unauthorized reproduction and redistribution are prohibited.]