Woori Asset Management Launches New 'Woori Da Gachi TDF'

[Asia Economy Reporter Minji Lee] Woori Asset Management announced on the 21st that it will launch a total of six TDFs, including ‘Woori Da Gachi TDF 2025,’ which aims for long-term stable performance through diversified investment in the global asset market in partnership with BlackRock Asset Management Group.

The domestic TDF (Target Date Fund) market size is approximately 3 trillion KRW. Woori Asset Management is reported to have launched these public funds in anticipation of the retirement pension market, including fund-type retirement pensions, expanding in earnest.

BlackRock Asset Management Group is widely known as a global leading manager in the global ETF market, and the TDF managed by BlackRock in the U.S. retirement pension market (based on Institutional Class) has accumulated over 25 years of management expertise in the U.S. market. Woori Asset Management plans to operate ‘Woori Da Gachi TDF’ based on a Korean-style glide path that reflects the management know-how of the global leading TDF manager through an advisory contract with BlackRock Asset Management Group.

Matt O’Hara, Co-Head of BlackRock Asset Management Group, said, “We focused on developing a ‘Korean-customized glide path’ based on key specific demographics such as life expectancy, market expectations, and income patterns to represent the average Korean.” This fund is characterized by utilizing a rich universe through BlackRock’s iShares ETFs for diversified investment in various assets while minimizing fees.

Woo Seok Seo, Chief Fund Manager at Woori Asset Management, said, “TDFs can be used not only for retirement pension purposes but also for goal-oriented funds with a set investment period (such as personal pensions, installment savings, ISAs). We will focus on global diversification by investing not only in global stock and bond ETFs but also in global alternative asset ETFs.”

Meanwhile, ‘Woori Da Gachi TDF’ can be subscribed through Woori Bank, Kookmin Bank, Shinhan Bank, Yuanta Securities, Korea Investment & Securities, Hana Financial Investment, Eugene Securities, IBK Securities, Kiwoom Securities, and Korea Post Securities.