Shinhan Financial Investment Introduces Comprehensive Asset-Liability Management System for Retirement Pensions
Strengthening DB-Type Asset Management Consulting
[Asia Economy Reporter Minji Lee] Shinhan Financial Investment announced on the 8th that it has introduced an 'Asset-Liability Management (ALM)' system for DB-type retirement pension asset management consulting.
'Asset-Liability Management' refers to an investment technique that integratively manages the volatility of liabilities and assets by reflecting the characteristics of retirement liabilities, which are sensitive to interest rate fluctuations, in the management of retirement pension assets.
From April next year, companies with 300 or more regular employees enrolled in defined benefit (DB) retirement pensions must establish an 'Asset Management Committee' within the company for the rational management of retirement pension reserves, and prepare an 'Investment Policy Statement (IPS)' at least once a year, including the purpose and method of reserve management and target rate of return.
DB-type retirement pensions can be managed with various products depending on the company's investment preferences; however, due to the absence of management guidelines and lack of expertise, they have been criticized for being biased toward principal-guaranteed management.
Accordingly, Shinhan Financial Investment has introduced the asset-liability management system for DB-type retirement pension asset management consulting and plans to provide long-term and multifaceted analytical information considering the characteristics of corporate retirement liabilities to asset managers, thereby offering customized asset allocation solutions tailored to companies along with Shinhan Financial Investment's research.
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Park Sung-jin, Head of the Retirement Pension Business Division at Shinhan Financial Investment, stated, “We will be able to assist companies preparing for the mandatory introduction of the Investment Policy Statement by providing customized asset allocation consulting that reflects the characteristics of retirement liabilities, helping to ensure the stable management of pension assets.”
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