Shinhan Asset Management Raises 63.3 Billion KRW for 'Contact Alpha Target Conversion Type 2'

[Asia Economy Reporter Minji Lee] Shinhan Asset Management announced on the 29th that it has completed the establishment of the ‘Shinhan Contact Alpha Target Conversion Type 2 Fund.’

This fund attracted 63.3 billion KRW over the past week, surpassing the successful fundraising amount of 22.7 billion KRW for the 1st fund. It employs a strategy that proactively invests in the everyday life that will return after the COVID-19 era. It has attracted the largest amount of funds among target conversion type funds established since last year, and it is analyzed that investors are expanding their expectations for a return to the contact era.

Earlier, Shinhan Asset Management launched the Shinhan Contact Alpha Target Conversion Type 1 Fund on the first day of domestic COVID-19 vaccinations at the end of February, and achieved the target return of about 8% (target conversion yield 7%) within two months after launch.

Kim Choong-sun, Executive Director and CMO of Shinhan Asset Management, stated, “Shinhan Asset Management is constantly striving to derive the optimal solution even in a market situation full of variables,” and added, “Based on our recently recognized management performance, we will focus all our capabilities to ensure that the confidently proposed management strategy can greatly contribute to investors’ performance.”

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