| Korea Investment Corporation (KIC), South Korea's sovereign wealth fund, posted a negative rate of return last year due largely to losses from investing in stocks, sources said Wednesday.KIC, which manages a US$42.9 billion fund, reported an average yield of minus 3.3 percent in 2011. Its investment in bonds yielded a 3.95 percent return, but its return on equity investments was minus 10.2 percent.
"Last year, global stock markets lost ground overall and other investment situations worsened, leading to the poor investment performance," an official at the government-owned company said...........................................Full Article: Source |