Shinhan Maum Pyeonhan TDF Surpasses 600 Billion KRW in Net Assets

[Asia Economy Reporter Hwang Junho] Shinhan Asset Management is emerging as a rising power in the target date fund (TDF) market.

Shinhan Asset Management announced on the 19th that the Shinhan Ma-eum Pyeonhan TDF has surpassed 600 billion KRW in net assets. The net assets of this TDF increased by 300% compared to the end of last year.

Shinhan Asset Management analyzed that since becoming a wholly owned subsidiary of Shinhan Financial Group in January this year, net assets have significantly increased through active management decisions and internalization of management capabilities. Expanding the sales channels of Shinhan Ma-eum Pyeonhan TDF to allow non-affiliated companies to sell the Shinhan Ma-eum Pyeonhan TDF was also effective. As a result, monthly inflows nearly reached 100 billion KRW in August.

The pension-related organization was also greatly strengthened. By establishing the Pension Digital Solutions Headquarters, professional capabilities are being supported in pension sales. Kang Jeong-gu, Global Head of Asset Management who oversaw the Equity Management Headquarters at Templeton Asset Management, and Na Jung-hyuk, Head of Investment Strategy Center who was the Securities Investment Director at the Korea Technology Credit Guarantee Fund, were newly recruited to strengthen capabilities. Accordingly, the year-to-date return of Shinhan Ma-eum Pyeonhan TDF 2050 is 13.86% (pre-tax return after fees, as of the 18th, Type C-s basis), recording the highest return among TDF funds over 30 billion KRW in the industry.

Lee Chang-gu, CEO of Shinhan Asset Management, stated, "Based on the internal management capabilities built after launching as a wholly owned subsidiary of Shinhan Financial Group and recent confident performance, our company has secured a definite market position in TDFs, and will continue to devote all attention to TDFs to grow together with our customers' assets."