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Top-Performing Korea Hedge Fund With 30% Gain Is Bullish on Banks for 2024

By 2024-02-22No Comments
  • BOK rate cuts to be less aggressive than market predicts: Kang
  • Korea banks slid earlier this year on fears of more regulation
The Bank of Korea complex. 
The Bank of Korea complex.Photographer: Woohae Cho/Bloomberg
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A hedge fund that has returned 30% this year is bullish on Korean bank stocks on the view local policymakers will cut interest rates less than the market is forecasting.

The nation’s financial firms will also benefit as populist calls for tighter regulation ease after legislative elections due in April, according to Life Asset Management Inc., which oversees the equivalent of $643 million. Higher interest rates are generally favorable for banks as they enable them to have wider net interest margins.