Mirae Asset Core Tech Fund Holding Promising Korean IT Stocks Surpasses 200 Billion KRW in Assets
This Year’s Top Domestic Equity Fund by Capital Inflow
[Asia Economy Reporter Minwoo Lee] The assets under management of Mirae Asset Global Investments' equity fund product, which invests in domestic IT-related companies, have surpassed 200 billion KRW.
Mirae Asset Global Investments announced on the 12th that the assets under management of the 'Mirae Asset Core Tech Fund' have exceeded 200 billion KRW. Since its inception on October 21 last year, it has recorded a cumulative return of 33.44%, rapidly growing in size thanks to its strong performance.
According to fund rating agency KG Zeroin, as of this date, it has attracted the largest inflow of 191.7 billion KRW among domestic public equity funds (excluding exchange-traded funds) since the beginning of the year. The fund size has nearly doubled in just over half a year after surpassing 100 billion KRW in assets under custody.
The Mirae Asset Core Tech Fund primarily invests in companies with high entry barriers in technology or core technologies that have the potential to be localized, as well as companies expected to experience high growth within their industries. Additionally, it targets IT companies with global competitiveness and companies that supply materials, parts, and equipment to these firms or provide software and related services.
The portfolio was constructed by comprehensively considering factors such as product competitiveness, market share, and technological entry barriers. It mainly consists of IT-related stocks such as semiconductors, secondary batteries, and 5G communication equipment. As of the closing price on the 8th of last month, it included Samsung Electronics 20.61%, NAVER 4.55%, SK Hynix 3.41%, LG Chem 2.90%, and KMV 2.89%, among others.
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Im Myung-jae, Head of WM Marketing at Mirae Asset Global Investments, stated, "We believe that the Mirae Asset Core Tech Fund has consistently attracted funds by delivering excellent performance and meeting investor demand to focus investments on IT-related companies with high growth potential in the Korean stock market."
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