Stock funds' presence in the local stock market is waning on a bearish run, with their portion to the total market capitalization hitting the lowest mark in nine years, data showed Monday.
According to the data compiled by the Korea Financial Investment Association, stocks under asset managers' investment fund portfolios accounted for 5.35 percent of the total market cap at the end of August, the lowest point since October 2005 when the comparable figure was 5 percent.