Kyobo Asset Management has officially changed its name from Kyobo AXA Asset Management and is set to operate as a core asset management firm within the Kyobo Financial Group.
On September 23, Kyobo Asset Management announced that it held an extraordinary shareholders' meeting on the 22nd, where it approved the name change from Kyobo AXA Asset Management. This follows its transition to a wholly-owned subsidiary of Kyobo Life Insurance last month.
Previously, Kyobo Life Insurance ended its 18-year joint venture with BNP Paribas Asset Management by acquiring the latter's 50% stake for 107.5 billion won.
The name change is expected to streamline governance and enhance the integration of the group's financial services and asset management sectors. Kyobo Asset Management plans to focus on developing its core businesses, including ETFs, retirement pensions, and solutions for institutional clients.
As its first initiative, the company listed the 'Power SK Group ETF,' which invests in major listed companies within the SK Group, on the KOSDAQ on the 22nd. It aims to expand its range of index and thematic ETF products in the future.
In the retirement pension sector, Kyobo Asset Management plans to enhance its offerings of target date funds (TDFs) that allocate assets according to retirement timelines, as well as expand its global equity and bond product lines.
A representative from Kyobo Asset Management stated, "The key to this change is to organically connect our asset management capabilities with the group's financial services, thereby broadening customer choices. We will continue to introduce products and solutions that align with our clients' long-term investment goals based on our expertise in traditional asset management."
* This article has been translated by AI.
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