February 28, 2023 11:23
Six out of 10 Koreans who put their money into investment funds suffered a loss last year when the Korea Composite Stock Price Index plunged nearly 25 percent amid rising interest rates and the economic slump.
According to a survey of 2,500 people by the Korean Financial Consumers Protection Foundation on Monday, 25.8 percent of them put money into investment funds last year. Each invested in an average of 2.7 funds.
A whopping 57 percent of fund investors suffered a loss, up from 34.6 percent in 2021. Their average loss rate rose five percentage points to 18.3 percent.
Only 20.4 percent made a profit, and their average profit rate stood at 18.7 percent, compared to 47.8 percent with a profit rate of 19 percent the previous year.
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