Mirae Asset Global Investments Surpasses 11 Trillion KRW in Pension Fund Assets, First in Korea

[Asia Economy Reporter Junho Hwang] Mirae Asset Global Investments' total pension fund assets under management have surpassed 11 trillion KRW. This marks more than a ninefold growth over 11 years from 1.2 trillion KRW at the end of 2010.

According to the Korea Financial Investment Association on the 21st, as of the 18th, Mirae Asset's pension fund assets under management reached over 11 trillion KRW, with individual pension funds such as pension savings at 4.432 trillion KRW and retirement pension funds at 6.739 trillion KRW.

Mirae Asset ranks first among domestic asset management companies not only in total pension funds but also in individual pension funds and retirement pension funds. Its market share reaches 27%.

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, has assets under management of approximately 3.477 trillion KRW. In the past year alone, strategic allocation TDFs increased by 1.5269 trillion KRW, and asset allocation TDFs grew by about 185 billion KRW.

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. It also leverages a global network and direct management to deliver excellent performance and low volatility. For example, the 'Mirae Asset Strategic Allocation TDF 2045 Mixed Asset Private Investment Trust' has recorded a cumulative return of 76.7% from its inception in March 2017 through the end of last year. Its recent 3-year return is 67.3%, the highest among similar products, and the fund's volatility is 11.2%, making it the most stable.

Significant funds have also flowed into the ‘Mirae Asset TIF’. The 'Mirae Asset Lifetime Income TIF Mixed Asset Private Investment Trust' and 'Mirae Asset Individual Pension Lifetime Income TIF Mixed Asset Private Investment Trust' attracted 271.7 billion KRW and 34.9 billion KRW respectively last year. Mirae Asset TIF (Target Income Fund) is a product managed with an income-focused approach for pension investors seeking stable returns. It pursues high income and low volatility by diversifying investments across multi-income strategies including capital gains, market-neutral, and base income strategies.

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