Mirae Asset Global Investments’ head office in Seoul. (Mirae Asset)
Mirae Asset Global Investments, a Korean asset management firm, has been cementing its leadership in the local personal pension fund market with assets under its management continuing to grow this year.
Personal pension and retirement pension funds operated by Mirae Asset have reached a combined 7.59 trillion won ($6.3 billion), or 3.63 trillion won and 3.96 trillion won, respectively. As of this year, the pension funds had increased by 500 billion won, the highest increase in the local market.
The asset manager, which now tops the pension fund market here with 23 percent market share, said its efforts to find global assets with great value and to offer diverse products are paying off.
“Mirae Asset is offering a range of pension products to help individuals to better prepare for life after retirement,” said Ryu Kyung-sik, head of Mirae Asset’s pension marketing division, adding, “The company will try to provide pension solutions that consumers can make diversified investments in global assets as well as readily manage those assets for retirement.”
Among others, the Mirae Asset Retirement Plan Global Dynamic Fund, which invests in bonds in global markets, has shown outstanding performance as it has attracted 60 billion won this year with the total investment amount surpassing 360 billion won. Mirae Asset’s Target Date Fund, which automatically adjusts a balance between high-risk and safe assets during a certain period of time, saw the amount of investment exceed 1 trillion won late last year for the first time among domestic asset management companies.
By Kim Young-won (firstname.lastname@example.org