Hanwha Asset Management Launches Direct Fund Sales App ‘Pine’

Photo by Hanwha Asset Management

[Asia Economy Reporter Minji Lee] Hanwha Asset Management is the first among large asset management companies to directly sell funds.

On the 11th, Hanwha Asset Management announced plans to launch a direct fund sales application (hereafter referred to as the direct sales app) called "PINE (Personal INvestment Enabler)" that allows customers to subscribe to its funds directly without going through banks or securities firms. PINE is a digital financial service that combines Hanwha Asset Management's 34 years of management expertise with digital capabilities, providing both comprehensive asset management and financial learning content simultaneously.

Direct fund sales by asset managers have significant advantages in terms of consumer protection. Since fund experts at the management company directly select and offer funds suitable for market conditions and investors, customers can invest with confidence. It also fundamentally eliminates sales company risks that may arise from sales performance pressures on distributors.

When subscribing to funds using the PINE app, no sales commission is charged on the funds. The sales fees are also offered at the industry's lowest level. Hanwha Asset Management has set a separate Je Class for direct sales and established sales fees at about 50% of the existing industry's lowest fund sales fees.

Choi Young-jin, Head of Digital Strategy at Hanwha Asset Management, emphasized, "PINE is a lineup of must-invest funds selected by experts," adding, "Just as a marathon winner definitely needs a running mate, PINE will be a running mate for all investors who need help for successful investment, including young investors and those starting new investments."