Preliminary operating results from a total of 48 asset management companies show pretax income for the first quarter of FY2006 ended June 30 will come to KRW92.54 billion, up sharply from KRW21.59 billion a year earlier. A KRW67.44 billion increase in investment management fees driven by a surge in assets under management mostly contributed to the jump in pretax income for the period. Net income for the period is expected to total KRW72.54 billion.

Pretax income for domestic asset management companies (36) came to KRW72.03 billion, compared with KRW14.42 billion a year earlier. For foreign asset management companies (12), the total came to KRW20.51 billion, compared with KRW7.17 billion a year earlier.

As of the end of June, assets under management totaled KRW221.6 trillion, up slightly from the previous quarter’s total of KRW221.3 trillion. Both stock funds and hybrid funds grew by KRW5.1 trillion and KRW3.7 trillion, respectively, but money market funds fell by KRW13.1 trillion during the period. Assets under management by domestic asset management companies came to KRW183.5 trillion. For foreign asset management companies, the total was KRW38.1 trillion.

* Please refer to the attached PDF for details.