[전문가에게 묻다]Jinsoo Hek “Funds with good past performance are advantageous”

[이데일리TV 이지혜 기자] Domestic individual investors are increasingly turning their eyes to foreign stock investment due to the limited growth potential of the domestic stock market. However, the reality is that investment is difficult due to lack of information. Experts say that it is desirable to take the share of global stocks at 60-70%, but advise that indirect investment through funds rather than direct investment can be advantageous in terms of returns.

Jinsoo Yuk, head of the global management division of Mirae Asset Management, said on the 5th, “Global investment and management experts have an advantage in making profits because they can continuously exchange information with the management of global companies and IB (investment banks).” Among them, choosing a fund with good past performance can be a good strategy.” He added, “For the time being, a fund consisting of future growth companies such as IT hardware and healthcare in the G2 (US and China) region will be able to produce good returns.”

The following are the main contents of the questions and answers.

-Recently, interest in overseas stocks is growing. It is also important in terms of diversification. How much do you think is desirable for foreign and domestic stocks?

△ Korea’s share of the global stock market is only around 2%. From this point of view, it may be advantageous to reduce the share of Korean stocks to the level of 30-40%. However, there is a tax burden when investing in global stocks. There is a capital gains tax of about 22% on the gains from the transfer of the investment, and a currency exchange fee is also required. You also have to take into account some time lag when monetizing.

-Are there any regions or sectors that you see most promising from a mid- to long-term investment perspective?

△ The United States and China, where there are many innovative companies, are the most popular investment regions. The proportion of R&D investment, which is the basis of an innovative company, is also high. The high proportion of R&D investment and a large number of innovative companies means that there are many companies with high growth potential. From this point of view, I think investing in US and Chinese companies is a way to increase returns.

The sector is paying attention to IT hardware and healthcare. IT hardware is an essential element for new growth engine industries such as 5G, IoT (Internet of Things), autonomous driving, and electric vehicles. We believe the supply shortage will continue over the next one year. In the case of healthcare, it was relatively sluggish due to government regulations on drug price cuts and lack of new drug development. While the Philadelphia Semiconductor Index rose 4 to 5 times, the healthcare index rose 1.5 to 2 times, limiting the rise. We believe that the risk of drug price cuts has passed its peak, and many global companies are currently focusing on new drug development, so the results are expected to come out over the next 3 to 5 years. This will increase the valuation.

-Recently, the number of investors investing directly in overseas stocks is increasing. What are the advantages of global stock funds?

△ When individual investors invest in overseas stocks, in-depth corporate analysis is inevitably difficult. Foreign company information is shared through various media such as YouTube, but it is not easy to access high-quality information such as competitors and directions of companies to invest in. Investing with limited information is itself a risk factor. On the other hand, global investment experts specialize in analyzing, researching, and investing global stocks, and they have an advantage in making profits because they allow continuous exchanges with management of global companies and global investment banks (IBs).

-Any advice on choosing a good global equity fund?

△ I think that a fund that has performed well, such as the return on the fund in the past, is advantageous in generating a future rate of return. The reason why the company has been performing well so far is because it proves that the fund manager or fund management team has been wisely dealing with the twists and turns. For example, good long-term performance means that market risks have been overcome in bear markets and high returns have been achieved in bull markets as a result of the company’s bridging. Although various fund products have been launched on the market, we believe that a fund that performs well for one, three, and five years can produce good results in the future.

Jinsoo Yuk, head of Mirae Asset Asset Management, interview site