[Market Insight] Han투운용 "Profit-Differentiated Fund... Providing Customers with Investment Success Experience"

"Through profit and loss differential funds, we want to provide customers with the 'investment success experience' of achieving returns. The goal is to help them gain investment performance and confidence."

Byungmoon Yoon, Chief Marketing Officer (CMO, Executive Director) at Korea Investment Management. Photo by Korea Investment Management

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Yoon Byung-moon, Chief Marketing Officer (CMO, Executive Director) of Korea Investment Management, said in an interview with Asia Economy, "We want to enhance customer value by increasing customer assets while boosting trust in Korea Investment Financial Group," explaining the goal of launching the profit and loss differential fund.

Korea Investment & Securities is selling the profit and loss differential public fund 'Korea Investment Samsung Group Growth Theme Fund' until the 25th. This fund invests in listed stocks of Samsung Group and related domestic and international stocks in key industrial themes such as next-generation semiconductors, secondary batteries, biosimilars, artificial intelligence (AI), and robotics, which will lead future growth.

This is a profit and loss differential fund that prioritizes customers as senior investors and Korea Investment Financial Holdings and its affiliates as subordinated investors. Even if losses occur, losses up to -15% are first reflected on subordinated investors by each subordinate private fund. Korea Investment Management is in charge of managing the fund.

This fund is the third profit and loss differential fund launched by Korea Investment Management. The returns of the funds launched so far have also been excellent. The first profit and loss differential product, 'Korea Investment Global New Growth,' which was raised in July last year, recorded a return of 13.31% (based on FnGuide as of April 18) since its establishment in August last year. The second, 'Korea Investment Global AI Big Tech Fund,' also recorded favorable performance, with a recent one-month return of 1.59% since its establishment on January 31 this year.

In particular, the greatest advantage of this fund is its stability. This is because Korea Investment Financial Holdings and its affiliates, as subordinated investors, bear losses up to -15%. During the interview, Executive Director Yoon showed data from the first fund and said, "Even though the Nasdaq or S&P 500 plunged sharply after the first fund was established, our fund was actually making a profit," adding, "From the investor's perspective, even though the fund entered a loss zone, they do not feel it as a loss, so they can have a sense of stability."

The most important factor for investors is the rate of return. In this regard, Korea Investment Management is confident that it can sufficiently reach the target return. He said, "When creating the fund, we run internal simulations to estimate the probability of achieving the target," adding, "Our own simulations showed an 80% probability within three years and 40% within one year."

He also emphasized the growth potential of Samsung Group. He expects synergies to emerge from numerous industries linked to Samsung Group. Executive Director Yoon explained that the fund incorporates research know-how from Korea Investment Management's past experience managing the 'Korea Investment Samsung Group Fund,' which reached a scale of 5 trillion won.

He said, "Simply put, the average price-to-book ratio (PBR) of Samsung Group, excluding Samsung Biologics, is 1.49 times, which is excessively undervalued compared to the global company average of 3.10," adding, "Recently, Samsung Group itself has been actively implementing shareholder return policies, and positive news is coming from various areas such as artificial intelligence (AI), high-bandwidth memory (HBM), and secondary batteries." He continued, "This fund does not simply invest in Samsung Group but also includes companies linked in the value chain and business-wise, so the outlook is bright."

Korea Investment Management plans to continue launching profit and loss differential funds. However, they hope this fund will serve as a catalyst to attract investors to other products rather than pushing just one type of fund. He explained, "The profit and loss differential fund will not end as a one-off," adding, "If customers can gain profits through this product, that is, experience success, it is naturally expected that they will flow into other funds."

He especially expects that profit and loss differential funds will later contribute to the revitalization of public funds. He emphasized, "Korea Investment Financial Group is steadily launching profit and loss differential funds because the goal is to revitalize public funds through restoring investor trust," adding, "If profits continue to occur, the advantages of public funds will be highlighted to investors, and they will become interested in various products."

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