Mirae Asset Launches New TDF 2050 Series

New Launch of 2 Types... Establishing a 13-Type TDF Lineup

[Asia Economy Reporter Minwoo Lee] Mirae Asset is launching a new target date fund (TDF) product.

Mirae Asset Global Investments announced on the 6th that it has newly launched the Mirae Asset TDF 2050 series. A TDF is a product in which investors invest in a fund with a specific target date, such as preparing retirement funds, and the proportion of risky assets and safe assets is automatically adjusted during the management period.

The newly launched products are two types managed with the target date of 2050: Mirae Asset Asset Allocation TDF 2050 and Mirae Asset Strategic Allocation TDF 2050. The existing Mirae Asset TDF was composed in 5-year intervals from 2025 to 2045. With the addition of 2050 this time, a total of 13 TDF lineups have been established.

Previously, Mirae Asset proactively launched TDF products through 'Mirae Asset Asset Allocation TDF' in 2011, and currently, the total assets under management stand at 1.5 trillion KRW (as of the end of July 2020), the largest in the industry. It is praised for demonstrating excellent performance by directly managing using Mirae Asset's global network rather than outsourcing to foreign asset managers.

In fact, as of the end of last month, Mirae Asset Strategic Allocation TDF 2025, the largest TDF in Korea, has assets under custody of 487.9 billion KRW and has shown a 23.89% return since its inception in March 2017. Mirae Asset Asset Allocation TDF 2025, set up at the same time, also recorded a cumulative return of 20.40%.

Ryu Kyung-sik, head of the Pension Marketing Division at Mirae Asset Global Investments, said, "With the launch of Mirae Asset TDF 2050, we will provide an alternative to millennial investors who have difficulty managing global asset allocation on their own," adding, "We will continue to strive to provide investors with comprehensive pension solutions from a lifelong perspective."