Funds with underlying South Korean assets totaled a net $440.9 billion as of the end of March, adding 5.4 percent from December and outperforming the 1 percent expansion in global fund turnover.

According to data compiled by the Korea Financial Investment Association on Thursday, turnover of Korean funds was 13th largest in the global scale.

The value of funds around the globe reached $40.7 trillion, up 1 percent from the end of last year. Money market funds gained the largest $192.2 billion among all financial products, followed by bond funds with $143.2 billion, stock funds with $19.1 billion and balanced funds with $17.5 billion.

Funds in Asia-Pacific region expanded $220.6 billion, Europe $219.7 billion and Africa 2.5 billion. Those in the U.S. fell $79.1 billion, Australia $21.8 billion, Canada $17.1 billion and Netherlands $3.3 billion. Chinese funds logged the largest growth of $215.6 billion.

Among funds, those backed by American assets took up the lion’s share of 51.21 percent, or $20.83 trillion in the total assets, Europe 34.69 percent or $14.11 trillion, the Asia-Pacific region 13.77 percent or $5.55 trillion, and Africa 0.45 percent or $184.3 billion.

By Park Yun-gu and Lee Ha-yeon

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]