By Park Hyong-ki
Staff Reporter
Every investor, investment bank and other financial firms may seem like losers in times of financial despair, as their money invested in stocks vaporize on subprime woes.
But where there are losers, there are also winners who have beat the bear on the stock market by soundly managing clients' investments.
According to the Korea Fund Ratings, JPMorgan Asset Management Korea led the way in recording the highest returns of its equity funds. The fund rating company assessed the performances of 39 investment management firms' funds on the market since Nov. 1 last year. It only evaluated funds whose investment in stocks accounted for more than 60 percent.
Although JPMorgan funds recorded in the negative zone, averaging minus 4.47 percent since November, they topped others in the mutual fund market.
Following JPMorgan, funds of Korea Value Asset Management averaged returns of minus 7.68 percent.
Shinyoung Investment Management, Dongbu Asset Management and Korea Investment Trust Management are among the best five asset managers.
But over the last three months, funds of Korea Investment Trust, a sister firm of Korea Value, outperformed their peers, including those of JPMorgan. Returns of Korea Investment funds averaged 4.15 percent, while JPMorgan funds' averaged returns were 2.99 percent during the corresponding period.
The ratings firm noted when considering the benchmark KOSPI falling an average of 14 percent since last November, their management capability against the bearish market on credit woes has been eminent.
Meanwhile, the biggest loser was Samsung Investment Trust Management. Its funds gained an average of minus 20.05 percent, lagging far behind the KOSPI average.
Funds of Alpha Asset Management were the second worst, averaging minus 19.22 percent. CJ, Prudential and Hyundai Wise investment management firms were among the worst managers.
Mirae Asset Investments' funds ― whose returns averaged minus 15.56 percent ― ranked in the mid-range.
phk@koreatimes.co.kr