Korean Sovereign Fund Finally Unloads Position in Bank of America

Posted on 12/08/2017


The Korea Investment Corporation (KIC) has finally sold its entire stake of Bank of America. The patient sovereign fund held onto the stake in the U.S. bank after witnessing its value plummet since 2008. KIC owned a large stake in Bank of America after it invested US$2 billion in Merrill Lynch in 2008, before Merrill […]