Baring Sees Korea Foreign-Capital Exodus Ending, Bets Big on Consumption
- Fund boosts investments in Korean retail, food, casino shares
- Internet stocks still expensive, underweight in memory: Choi
This article is for subscribers only.
An $8.5 billion money manager says the outflow of foreign capital that has made South Korea one of the world’s worst-performing stock markets may soon be over.
Baring Asset Management Korea Ltd. says the tide may turn as the Federal Reserve slows the interest rate hikes that have hit the exporting Asian nation hard. While the firm’s flagship Korean equity fund has fallen 14% over the past year, it has fared better than the benchmark Kospi’s 25% slide and outperformed 95% of its peers, according to data compiled by Bloomberg.