KB Asset Management's 'Pension Trio' Surpasses 1 Trillion Won in Net Assets
[Asia Economy Reporter Junho Hwang] KB Asset Management announced on the 3rd that the net assets of the pension trio?Target Date Fund (TDF), Target Income Fund (TIF), and Target Return Fund (TRF)?have surpassed 1 trillion won (as of the 1st).
The net assets of KB Asset Management's three pension sectors have tripled from 334 billion won at the end of last year. This is the result of expanding and reorganizing the pension organization and broadening product offerings after CEO Hyunseung Lee took office earlier this year. Until last year, apart from the 'KB Retirement Pension Dividend 40 Fund,' which is the largest single fund in the domestic market, KB had not shown significant prominence in the TDF market.
KB On Gukmin TDF's assets under management have more than doubled compared to the end of last year. In terms of market share growth, it showed the highest increase among asset management companies. The flagship product, KB On Gukmin TDF2055, posted a 34.48% return over the past year, the highest among all TDF products. The ‘KB Dynamic TDF,’ developed in collaboration with Professor Donghyun Ahn's team at Seoul National University in June, is also set for full-scale sales soon. The return of 'KB Dynamic TDF' has been stable at 3.25% since its inception.
TIF has also gained popularity recently as more people aim for stable fund management. KB Asset Management has been managing the 'KB On Gukmin Lifetime Income TIF' series since 2018. The 3-year cumulative return of 'KB On Gukmin Lifetime Income TIF 40' is approximately 24%.
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TRF, which is managed according to a set target return, is also expected to grow in the future. Minho Kim, Vice President of the Pension WM Division at KB Asset Management, explained, "The KB Target Return OCIO Fund is suitable for defined benefit (DB) retirement pensions operated by companies because it is managed according to the target return. If stable management performance accumulates, demand is expected to surge explosively when the default option is introduced." The year-to-date return of KB Target Return Stable OCIO is 6.49%.
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