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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

S Korea’s KIC buys $78mln in BofA shares this year

Posted on 23 August 2011

South Korea’s sovereign wealth fund Korea Investment Corp., or KIC, has purchased $78 million in Bank of America Corp. (BAC) shares this year, judging that the U.S. banking giant’s shares were undervalued.
KIC bought the shares since January with part of the $145 million in dividends it received from BofA, the Korean sovereign fund said in a statement issued late Monday……………………………………….Full Article: Source


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