NH-Amundi Asset Management's 'Pilsung Korea Fund' Now Available for Purchase at Woori Bank

[Asia Economy Reporter Minji Lee] NH-Amundi Asset Management announced on the 11th that the ‘NH-Amundi Pilseung Korea Fund’ will also be sold through Woori Bank.

Accordingly, the NH-Amundi Pilseung Korea Fund can now be subscribed to through 31 distributors, including Woori Bank. The A-class has a front-end load of 0.5% and an annual total fee of 0.877%.

The ‘NH-Amundi Pilseung Korea Fund’ is a domestic equity fund that focuses on companies capable of co-growth through the localization of materials, parts, and equipment industries.

In July last year, during the intensification of the trade dispute, NH-Amundi Asset Management launched this product as the first of its kind in Korea to foster domestic materials, parts, and equipment companies. This product has lower management and sales fees compared to other public equity funds, and 50% of the management fee is allocated to a fund that contributes to public interest activities such as providing scholarships to universities and research institutes related to relevant technology development.

The fund attracted 100 billion KRW within three months of its launch and achieved nearly 30% performance. Although the yield declined somewhat since the beginning of the year due to the spread of COVID-19, the yield has recently recovered along with the rebound of the domestic stock market. As of May 8, the fund’s assets under management were approximately 139 billion KRW, and the cumulative return since inception was 9.06%.

Park Dong-woo, Head of Retail Marketing at NH-Amundi Asset Management, stated, “There are still many areas within the IT materials, parts, and equipment industries that require localization,” and added, “The Pilseung Korea Fund can be an easy means to invest in Korea’s new growth engines from a mid- to long-term perspective.”

This content was produced with the assistance of AI translation services.