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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment

Korea Investment Corp will hold on to BofA stake

Posted on 16 July 2009

From Dow Jones: South Korea’s sovereign wealth fund Korea Investment Fund will continue to hold on to its stake in Bank of America (BAC) and is looking to develop strategic ties with the bank, KIC’s chief investment officer Scott Kalb said Wednesday.

“If you sell it (Bank of America stake), it is because (Bank of America’s) outlook is poor. But that isn’t so. I think BofA is well positioned,” Kalb said at a press conference……..Full Article (Subscription Required) : Source


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