September 23, 2011 / 4:10 AM / in 6 years

KIC says no decision on BofA dividend

SEOUL, Sept 23 (Reuters) - South Korea’s sovereign wealth fund said on Friday that it has made no decision yet on where to put dividend income from a stake in Bank of America Corp , dismissing a local report that the fund planned to increase its equity holding in the U.S. bank.

“We will decide the direction of our investment after closely monitoring the global economy and financial markets,” Korea Investment Corp said in a statement.

KIC added that it planned to buy yuan-currency assets in the medium term and separately would entrust a certain amount of money with private asset managers to buy Chinese and other Asia-Pacific stocks. (Reporting by Kim Yeonhee; Editing by Chris Lewis)

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