Midas Asset, Achieves NAV for 'Asia Leaders Tech Growth Target Conversion Fund'

[Asia Economy Reporter Minji Lee] Midas Asset Management announced on the 4th that the ‘Midas Asia Leaders Tech Growth Target Conversion Fund’ has achieved a target return rate of over 6%. This performance was achieved about 100 days after the fund began operation on February 18 of this year.

In March 2018, Midas Asset Management also launched a similar strategy fund, the Midas Asia Leaders Growth Target Conversion Fund, which reached its target return within three months.

On Namhoon, Head of Equity Management Division 1, explained, “Even within the tech sector, some companies benefited from COVID-19 and the US-China trade dispute,” adding, “By focusing primarily on key themes such as 5G, electric vehicles, and automation robots, we were able to achieve the target performance.”

Accordingly, the fund is scheduled to be converted to a bond-reinvestment type and managed from the 11th. A company official stated, “We plan to activate the publicly offered fund with a similar strategy currently in operation, the Midas Asia Leaders Growth Fund,” and added, “There are no plans to launch additional target conversion funds at this time.”

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