SEOUL, May 11 (Korea Bizwire) — South Korea’s sovereign wealth fund said Monday it has logged a cumulative US$14.7 billion in investment profit as of the end of last year following its establishment in 2005.
Its overall return on investment reached 10 percent last year, while its annual return on investment in the past five years and past three years averaged at 7.5 percent and 10.8 percent, respectively, according to Korea Investment Corp.
In 2014, the return on traditional financial products came in at 9.5 percent, with that from stocks and bonds each reaching 10.9 percent and 8.8 percent.
KIC was established in July 2005 as part of the government’s plan to increase sovereign wealth and help bolster the local financial industry. It manages assets entrusted by the government and the central bank.