Private equity funds (PEFs) in South Korea saw their net asset value grow by the largest amount in five years as investors sought after higher investment returns amid a protracted economic slowdown and low market rates, data showed on Sunday. According to the data compiled by market researcher FNGuide, net asset value by PEFs reached a combined 142.67 trillion won (US$134.48) as of Friday, up 17.6 percent from 121.29 trillion won at the end of last year.