Korean funds agree to limit money-market inflows

For Korea's mutual funds industry, which is as damaged by losses in equity valuations as anywhere else, to say 'no' to new inflows seems strange. But the industry's self-regulatory organisation, a division in the Korea Financial Investment Association (Kofia), has this week agreed to limit new inflows into money-market funds, and to wean institutional clients off money markets within the next 70 days.