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Kiwoom Asset Management & VinaCapital sign MoU

Released at: 09:27, 09/01/2019

Kiwoom Asset Management & VinaCapital sign MoU

Photo: VinaCapital

Two shake hands to provide VinaCapital's investment products to South Korean investors.

by Hong Nhung

Kiwoom Asset Management signed a memorandum of understanding (MoU) on January 7 with VinaCapital, one of Vietnam’s largest asset management companies, under which Kiwoom will provide selected VinaCapital investment products to South Korean investors. In the long run, it hopes to provide its own investment products to Vietnamese investors.

“The opening of our office in Vietnam in 2018 is part of our entry into the Southeast Asian market,” said Mr. Seong Hoon Kim, CEO of Kiwoom Asset Management. “After several months of discussions and shared investment experience, we decided to sign an MoU with VinaCapital to transform our current relationship into a longer-term strategic partnership.”

VinaCapital is one of Vietnam’s leading multi-asset management companies, which has grown steadily since its establishment in 2003 to approximately $1.8 billion in assets under management. It offers the most diverse product lineup among Vietnamese investment management companies, covering all asset classes in the country, including listed equity, fixed income, private equity, and real estate.

“Our mission at VinaCapital is to deliver innovative investment products that will produce superior returns for Vietnamese and international investors,” said Mr. Nguyen Thi Thai Thuan, CEO of VinaCapital Fund Management. “We are excited to extend our expertise to South Korea, not only because of its growing interest in Vietnam but also because of our strategic partnership with Kiwoom. We believe that our deep investment experience in Vietnam, coupled with Kiwoom’s product and distribution innovations, will enable both parties to enjoy shared success in both markets.”

As part of the partnership, Kiwoom Asset Management will develop and launch new products that will tap into VinaCapital’s expertise. Initial ideas include a multi-asset fund, an index fund, a real estate fund, and a fixed-income/corporate bonds fund.

Kiwoom Asset Management has been aggressively expanding its global business since 2014. Its total assets under management is currently $40 billion, of which approximately 16 per cent will be overseas investments in 2019, a 100 per cent increase since 2014. Notably, Kiwoom Asset Management has been selected as a trust management company for various pension funds, based on its excellent global investment performance and its proven ability to operate effectively in South Korea and overseas.

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