SEOUL-- The rate of return for equity funds of Samsung Electronics Co. and other Samsung Group-related firms exceeded 30 percent this year amid the bullish market backed by solid corporate earnings and the global economic recovery, industry data showed Wednesday.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.40 percent to 2,439.90 Tuesday from 2,026.46 as of the end of last year. The stock prices of 16 companies affiliated with Samsung Group jumped 32.42 percent during the same time span.
The yields on Samsung Group funds reached 30.99 percent so far this year, according to the statistics provided by industry tracker FnGuide. The figure compares to 20.40 percent for the average return on all local funds with net assets of at least 1 billion won (US$893,096).
The comparable figure for the stock funds of other large business groups was 21.75 percent.
The latest findings showed the return of funds specializing in IT firms came to 31.36 percent with the IT funds' accumulated yields for the past five years approaching 80 percent.
Index funds tracking the cap-weighted indices returned 22.45 percent.
Cho Yong-joon of Hana Financial Investment predicted the bullish market will likely continue toward the end of next year despite occasional corrections, saying "Samsung Electronics Co. and SK hynix will continue to maintain their current status as leading stocks helped by the booming semiconductor industry."
The analysts also expected a continued rise in stock prices of financial institutions buttressed by the gradual rate hikes and the stock market boom.
Source: Yonhap News Agency