Samsung stock funds shine on Samsung Electronics rally
SEOUL-- Local funds investing in stocks of Samsung Group units have pulled off stellar performances this year on a surge in top-cap Samsung Electronics Co., far outperforming the overall stock market, data showed Friday.
As of Wednesday, 25 Samsung Group funds have posted an average return rate of 11.35 percent since the start of the year, according to the data by industry tracker KG Zeroin. The yield is much higher than the 7.5 percent increase in the benchmark Korea Composite Stock Price Index (KOSPI) over the cited period.
Out of the total, 21 investment funds have yielded more than 10 percent, with the highest return rate reaching 14.3 percent.
Samsung Electronics, the group's flagship and the world's top maker of smartphones and memory chips, powered the Samsung stock funds' outstanding results.
Samsung Electronics has been on a roll on hopes for increased earnings down the road, with its closing share price reaching a new high Tuesday.
KG Zeroin also said six investment funds for Hyundai Motor Group stocks have registered an average return rate of 6.58 percent over the cited period as Hyundai Motor Co. and its affiliates have been bullish on expectations the top automaker may introduce a holding company system.
All the funds chalked up positive returns, with the highest rate of return standing at 11.38 percent. Over the last one-week period, the funds yielded an average 3.79 percent, compared with the KOSPI's 2.09 percent gain.
The flagships of Hyundai Motor Group, the world's fifth-largest automaker, are Hyundai Motor and South Korea's second-largest carmaker Kia Motors Corp.
Source: Yonhap News Agency