For the first time, South Korean asset management firms are beginning to offer their local ware to overseas investors. Citing investment experts, KoreaTimes reports that the move would help form a bubble in the local stock market, as the securities markets continue to blossom. In addition, according to the paper, local firms are selling foreign securities to their South Korean investors, a change from past practice when only foreign portfolio managers could offer such products.
The locals couldn't be more delighted. Kim Dae-yeon of PCA Investment Trust Management told the Times, "The fact that our offering of [Korea Fund] in Japan is gaining popularity among Japanese investors reflects that foreign investors' confidence in Korea portfolio management firs' asset management know-how and risk management system has improved."