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Yurie sees future in index funds; Asset-management firm to sell.
(From The Korea Herald)
By Rafael Nam When the Vanguard Group, one of the biggest mutual fund groups in the United States with $560 billion in managed assets, was looking to enter the Korean market, it turned to a small company called Yurie Asset Management that most have probably never heard of.
Yet in many ways besides size, Vanguard and Yurie do appear to be soul mates.
Both make their bread and butter from index funds, which are funds designed to match the performance of a particular index by holding the stocks represented in that index.
An index fund designed after the S&P 500, for example, would contain all or most of the stocks contained in that benchmark index.
An investor in an index fund tends to have a longer view. The idea is that over the long-term, a fund that follows an equity …
