Mirae Asset Global Investments Achieves Korea's First Pension Fund Assets Under Management of 10 Trillion Won

[Asia Economy Reporter Minji Lee] Mirae Asset Global Investments announced on the 7th that it is the first in Korea to exceed 10 trillion won in total pension fund assets under management. This represents more than an eightfold growth over about 10 years from around 1.2 trillion won at the end of 2010.

According to the Korea Financial Investment Association on the 1st, the total pension fund assets under management in the industry reached 36.9 trillion won, increasing by 4.5 trillion won this year. Mirae Asset's individual pension funds, including pension savings, amount to 4.2 trillion won, and retirement pension funds total 5.9 trillion won, bringing the total pension fund assets under management to over 10 trillion won. Mirae Asset ranks first among asset management companies in both total and individual pension fund assets under management.

The product driving the growth of Mirae Asset's pension funds is the "Mirae Asset TDF series." The Mirae Asset TDF (Target Date Fund) series, the largest in the industry, attracted 830 billion won in funds this year. Considering that the entire industry’s TDFs attracted 1.6 trillion won, half of the inflows went to the Mirae Asset TDF series. The TDF market share also rose by 4 percentage points from 41% at the end of last year to 45% at the end of May.

The Mirae Asset TDF series constructs portfolios through asset allocation and strategic allocation by utilizing global ETFs and verified Mirae Asset funds, considering expected returns and loss recovery periods to minimize principal loss at the target date. Since it is directly managed using Mirae Asset’s global network rather than outsourced to foreign asset managers, it delivers excellent performance and low volatility. For example, the "Mirae Asset Strategic Allocation TDF 2045" has achieved a cumulative return of 67.63% from its inception in March 2017 through the end of May. Additionally, its 3-year return of 43.89% is the best among similar products, and its volatility of 13.70% during the same period is the most stable.

Mirae Asset Global Investments provides portfolios that enable global diversification from investment assets to regions to grow pension assets through investment and meet the increasingly diverse needs of pension investors. Beyond traditional investment assets, it offers stable investment solutions based on various alternative investment products such as real estate, raising its total pension fund market share to around 27%.

Ryu Kyung-sik, Head of WM Pension Marketing Division at Mirae Asset Global Investments, said, “Mirae Asset recognizes the importance of preparing for retirement due to increased life expectancy and offers various products such as TDF and TIF in the pension market. We will continue to strive to provide investors with comprehensive pension solutions that manage everything from accumulation to withdrawal of retirement assets through diversified investment in global quality assets.”