Korea Investment & Securities Co. (KIS) and Man Group are preparing to roll out an Asia-focused equity fund, marking their second joint investment product following the debut of a global credit fund for Korean individual investors in 2024.
“Our plan to launch an Asia equity fund in collaboration with Man Group is taking clearer shape,” Kim Sung-hwan, chief executive of KIS, said in a statement on Wednesday.
His remarks came shortly after he met with Robyn Grew, CEO of the UK asset manager, in Seoul.
The securities firm under Korea Investment Holdings Inc. has been expanding strategic partnerships with global investment firms to develop new products catering to individual investors’ growing appetite for overseas assets.
“Through this discussion, we explored ways to improve Korean investors’ access to global credit products and expand their portfolio across various regions, including Europe and Asia,” Kim added.
In November, the two firms jointly launched the Korea Investment MAN Dynamic Income Fund.
The monthly-distribution fund has attracted about 600 billion won ($422 million) in cumulative sales, accounting for about 70% of MAN Group’s fund sales in South Korea in value.
With about $193 billion in assets under management, London-listed Man Group has built a strong foothold through a diversified portfolio spanning absolute-return, macro, structured-credit and private-debt strategies.
Grew assumed the role of Man Group’s CEO in 2023, following stints at Barclays Capital and Lehman Brothers.
By Yeonhee Kim
Yhkim@hankyung.com
Jennifer Nicholson-Breen edited this article.
