SEOUL, Nov. 29 (Xinhua) -- South Korea's institutional investment in foreign securities hit a record high in the third quarter, central bank data showed Monday.

The outstanding foreign securities, owned by local institutional investors including asset managers, brokerages and insurers, reached a new high of 385.59 billion U.S. dollars at the end of September, according to the Bank of Korea (BOK).

It was up 1.4 percent from the previous high of 380.14 billion dollars tallied three months earlier.

The ownership of foreign securities by asset managers, foreign exchange banks and brokerages grew by 4.86 billion dollars, 950 million dollars and 260 million dollars respectively in the July-September quarter, but the holdings by insurers declined by 620 million dollars.

The outstanding institutional investment in foreign stocks increased by 5.08 billion dollars during the quarter, while the investment in foreign bonds expanded by 820 million dollars.

The institutional holdings of Korean Paper, which refers to the foreign currency-denominated bonds sold overseas by local institutions or companies, reduced 450 million dollars to 36.94 billion dollars in the cited quarter. Enditem

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