The fund, run by Seoul-based Ryukyung PSG Asset Management Inc., has invested around US$500,000 in the movie that became the first foreign-language film in history to win the coveted Oscar for best picture.
The privately-sold fund invests only in movies distributed by Korea’s CJ Group, and it has returned 72.1% since its launch in July 2018, according to data compiled by KB Securities Co seen by Bloomberg News. It’s also profited from other Korean cinema hits including “Extreme Job” and “Exit.” “Film funds are in the limelight at the moment, ” said Andy Kim, an analyst at Samsung Securities Co in Seoul. While the popularity of “Parasite” may help attract more demand, it may still be hard to widen the investor base significantly given the niche investment’s high volatility and the difficulty of assessing whether a movie will sell well, he said.Shares of Barunson Entertainment & Arts Corp, the movie’s production company, have surged about 80% this week.