미국펀드산업 지배구조 발전의 역사 및 한국 펀드산업에의 교훈

Lesson from the history of mutual fund industry in U.S

The Korean fund industry has been developing ever since the year 2000, but it seems very similar to that of US in the early 1980's and there are expectations that it might change in the near future. Specially, the internal governance of the fund industry brings a closer attention. The US fund industry changed its regulations in order to protect the interests of the investor(stockholder), since the problems like seller-manager collision, seller/manager and investor conflicts occurred in the US fund industry back in 1920. Korea also needs to improve the regulations and governance of the funds just the way like the US' mutual fund governance(stocks ownership and strong boards of directors) was improved.