Adding 'Innovation' to KB Asset's '1Konomy Fund'
[Asia Economy Reporter Hwang Junho] On the 22nd, KB Asset Management changed the name of the 'KB1conomy Fund' to 'KB1conomy Innovation Trend Fund' and newly invested 2 billion KRW of proprietary funds for responsible management.
The KB1conomy Fund is a product that invests in core growth companies due to the expansion of single-person households. KB Asset Management expanded the investment targets to include innovation trend companies as well when changing the fund name. Previously, it invested in IT (51%), consumer discretionary (11%), financials (7%), healthcare (6%), etc., but it will now also invest in 4th industrial revolution sectors (robots), ESG, IT tech, entertainment, media content, and bio companies.
This fund, created in 2017, has shown 1-year and 2-year returns higher than the benchmark (KOSPI). The 1-year return is about 48.08% (FnGuide, as of February 19).
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Ha Jaejin, Executive Director of the Pension WM Division at KB Asset Management, said, "Single-person households are a representative family type not only in Korea but worldwide," adding, "We will develop this into a flagship fund by discovering companies that actively respond to industrial trend changes as well as beneficiaries of single-person households."
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