South Korea’s Mirae Asset Global Investments Co. announced on Tuesday that the net assets of its Mirae Asset US Dividend Premium Fund, which invests in high-quality US dividend stocks and employs a covered call strategy, have surpassed 100 billion won ($72 million).
As of the closing price on June 24, the fund’s net assets amounted to 118.6 billion won, a threefold increase from 43.8 billion won at the end of last year.
The fund’s main investment targets include Microsoft, Apple, and NVIDIA.
Through the covered call strategy, the fund hedges against stock price declines.
This method involves selling call options (the right to buy stocks at a specific price) to generate additional income (option premiums) during market downturns.
The fund offers two types: unhedged (UH) and hedged (H).
Investors who anticipate a stronger US dollar and a rising won-dollar exchange rate should choose the unhedged type, while those expecting a stronger South Korean won should opt for the hedged type.
By See-Eun Lee
see@hankyung.com
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