EM equity portfolios at risk from North Korea tensions

A US-North Korean war would have a big impact on institutional emerging-market equity portfolios, given South Korea's chunky weighting in EM benchmarks. Asset owners globally had $220 billion of exposure to South Korean stocks via active fund managers as of the second quarter of this year, according to data provider eVestment. Those in Chinese, Indian and Taiwan – and of course South Korea – own the biggest allocations. (Globally fund houses report $36 trillion worth of actively m…