KIC Chief Investment Officer Sheds Light On $10 Billion Asset Surge

May 22, 2015 by Loch Adamson

KIC CIO Heungsik Choo on the fund's 2014 report
KIC's assets rose $12.7 billion over 2014
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Korea Investment Corp.’s latest annual report, published on its website last week, showed a $12.7 billion surge in its assets under management, which left some analysts scratching their heads. KIC CIO Heungsik Choo explains the fund’s rise in value and other issues. Korea Investment Corp.’s 2014 annual report, which was published on the fund’s website last week, left some analysts and stakeholders befuddled. The Korean-language document showed KIC’s assets under management rose 17.6 percent to $84.7 billion over the twelve months to December 31, 2014, up $12.7 billion from the $72 billion figure recorded a year earlier. The fund’s investment return of 3.8 percent, however, amounted to only $2.7 billion. The source of the mysterious other $10 billion — whether it be from currency fluctuations, or extra capital from the government — was unclear. To be sure, KIC is one of the more transparent sovereign wealth funds —…

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