KB Asset Launches Industry-First 'Global Hydrogen Economy Fund'

by Hwang Junho

Published 15 Feb.2021 09:59(KST)

Updated 05 Mar.2023 14:52(KST)

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On the 15th, KOSPI opened at 3,108.70, up 8.12 points (0.26%) from the previous trading day, as employees were working in the dealing room of Hana Bank in Jung-gu, Seoul. KOSDAQ opened at 965.83, up 1.52 points (0.16%) from the previous trading day. The won-dollar exchange rate started at 1,105.0 won, down 2.0 won from the previous trading day. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Junho Hwang] KB Asset Management is launching the industry's first global hydrogen economy fund on the 15th.

This fund invests in companies producing hydrogen such as Germany's Siemens and Norway's Hydrogen, as well as those involved in high-pressure storage and transportation like Germany's Linde and France's Air Liquide. It also invests in companies with strong business ties to hydrogen or core technologies, including U.S. Plug Power and Doosan Fuel Cell, which manufacture hydrogen vehicle batteries and electrical devices, and mobility manufacturer Hyundai Motor.

The fund can be subscribed through Kyobo Securities, Kiwoom Securities, Korea Post Securities, and Korea Investment & Securities. Investors can choose from Class A (1.0% front-end load, 1.625% annual fee), Class A-E (0.5% front-end load, 1.275% annual fee, online front-end load), Class C (no front-end load, 2.225% annual fee), and Class C-E (1.425% annual fee, online only). There is no redemption fee.

Jaejin Ha, Executive Director of the Pension WM Division at KB Asset Management, stated, "Hydrogen is an eco-friendly energy source that will replace fossil fuels, and with the enforcement of the Hydrogen Act, hydrogen-related infrastructure and industries will grow significantly. The Global Hydrogen Economy Fund, which invests in companies competitive in this field, will provide a good opportunity for investors."

Meanwhile, KB Asset Management launched the KBSTAR Fn Hydrogen Economy Theme ETF in October, which invests in domestic hydrogen economy-related companies. Within three months of its inception, its net assets exceeded 185 billion KRW, and it has recorded a high return of 20.57% since the beginning of the year.