Fund Managers’ flavour of the month
(South Korea) - Fund Managers rate South Korea as their favourite Asian market for 2002 and have added Singapore equities to their buy lists for the first time in two years, according to a new survey of regional asset allocator.
In both three-month and one-year investment horizons, Korea was the top choice for 5 out of 10 international fund houses polled in the latest quarterly funds survey by Reuters and Hong Kong-based fund management magazine, Benchmark.
Four of the funds chasing Korea see technology as the sector to overweight in the coming quarter, looking for a recovery in semiconductor prices and electronics demand to pump returns.
Mutual funds investing in Korean equities were the top performing Asian funds last year, delivering average annual compound returns of 40.4 percent in US dollar terms, according to data from fund tracking firm, Lipper, with JF Korea Fund being the best performing Korea focussed mutual fund in 2001 with annual compound returns of 59.1 percent.
Fund Manager Dresdner RCM Global Investors has picked South Korea and Singapore as its two favourite markets over the coming 12 months. Singapore is the top choice over the next three months for Schroders as well.
Four of the funds chasing Korea see technology as the sector to overweight in the coming quarter, looking for a recovery in semiconductor prices and electronics demand to pump returns.
Mutual funds investing in Korean equities were the top performing Asian funds last year, delivering average annual compound returns of 40.4 percent in US dollar terms, according to data from fund tracking firm, Lipper, with JF Korea Fund being the best performing Korea focussed mutual fund in 2001 with annual compound returns of 59.1 percent.
Fund Manager Dresdner RCM Global Investors has picked South Korea and Singapore as its two favourite markets over the coming 12 months. Singapore is the top choice over the next three months for Schroders as well.
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