Fidelity Fund Joins Bullish Korea Wave Fueled by Reform Optimism

South Korea’s stock rally still has momentum due to corporate governance reform efforts and resilient earnings, according to a money manager at Fidelity International.

Ian Samson, a multi-asset portfolio manager at the firm, has curbed his exposure to Japan and shifted his funds to overweight Korean equities in late May — shortly before the snap presidential election — on expectations that a new president would curb political uncertainties and accelerate long-awaited shareholder reforms.