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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Assets under management (AUM) at Korea’s top 20 asset management firms fell by 28.6 trillion won in the week ending March 9, according to the Korea Financial Investment Association.
The biggest declines came from Samsung Asset Management and Mirae Asset Global Investments, whose AUM dropped by 11.7 trillion won and 6.36 trillion won, respectively.
The outflow was largely driven by equity funds. Stock-related assets at the two firms alone fell by 8.63 trillion won and 5.75 trillion won, while equity assets across the top 20 asset managers declined by 23.4 trillion won, accounting for nearly 82% of the total AUM decrease.
Only two firms—Plus Asset Management and Woori Asset Management—managed to increase their assets during the period, gaining 1.12 trillion won and 944.3 billion won, respectively.
Their growth was fueled by strong inflows into money market funds (MMFs), as investors shifted money into short-term financial products amid heightened market volatility. Over the week, 1.13 trillion won flowed into Plus Asset Management’s MMFs and 1.22 trillion won into Woori Asset Management’s, accounting for more than 58% of total short-term fund inflows among the top 20 firms.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
