Abstract
An equity mutual fund is a financial intermediary that collects funds from various investors and invests in equities and other assets. It has the following advantages or functions: record keeping and administration, diversification and divisibility, professional management, and low transaction costs. Compared to the rapid growth of the global equity fund markets over the past decade, the Korean market has shrunk significantly. The main cause is the decline in the reliability of equity funds. This study examines the current status of the global and Korean fund markets and their relationships with private pension markets. Based on the findings, various issues in the Korean equity fund market are identified, and various possible solutions concerning asset management companies, sales companies, and institutional regulations are suggested. If the equity fund market gains the investorsâ trust, it will reduce the direct investment of stocks by individuals, benefit the private pension markets, and contribute to the development of the Korean capital market. Key words: Equity Mutual Fund; Retirement Pension; Individual Retirement Account; Exchange Traded Fund; Master Trust JEL Classification: A20, G10, G23
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