Kyobo AXA Asset Management Launches Green Digital Fund
Remodeling of the 'Neo Gachiju' Fund Launched in 2015
[Asia Economy Reporter Minji Lee] Kyobo AXA Asset Management announced on the 21st that it will launch the ‘Kyobo AXA Green Digital Securities Investment Trust (hereinafter referred to as ‘Kyobo AXA Green Digital Fund’), which invests in Korean New Deal companies and technology innovation companies with long-term growth potential.
This fund is an equity-type fund that invests in domestic companies related to the Korean New Deal policy announced by the government, companies with innovative technologies, and companies expected to have long-term structural growth.
The Korean New Deal project announced by the government last July is a project with 114 trillion won of national funds to be invested by 2025. It is a policy aimed at leaping from a catch-up economy to a leading economy and from a carbon-dependent economy to a low-carbon economy, with Digital New Deal and Green New Deal as the main policy agendas.
The Kyobo AXA Green Digital Fund mainly invests in companies related to the Digital New Deal policy such as 5G, artificial intelligence (AI), and non-face-to-face industries, as well as companies related to the Green New Deal policy such as wind power, secondary batteries, hydrogen fuel cells, and solar power. It also includes technology innovation companies specialized in domestic production of materials, new material development, and new product development, as well as companies that align with recent trends such as online platforms, online payments, and bio companies responding to population aging.
Furthermore, the fund plans to identify and invest early in companies classified as value stocks operating traditional industries that could be reclassified as growth stocks due to mergers and acquisitions and changes in business conditions.
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Lee Sang-jin, Head of Channel Sales at Kyobo AXA Asset Management, said, “Due to the rapid changes caused by the outbreak of the novel coronavirus disease (COVID-19) and climate (environmental) changes, it is very difficult to generate investment returns using traditional investment methods in this new environment,” adding, “We have changed the fund name and management strategy to Kyobo AXA Green Digital Fund to align with the changes of the times and will invest in companies that fit the strategy.”
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