Shinhan Asset Management Launches 'Shinhan Kendriam Europe Innovation Fund'

[Asia Economy Reporter Hwang Yoon-joo] Shinhan Asset Management announced on the 27th that it will launch the 'Shinhan Candriam Europe Innovation Fund,' which invests in European innovative companies.

The Shinhan Candriam Europe Innovation Fund is a fund of funds that invests in Candriam's 'Candriam Equities L Europe Innovation' fund, managed by Candriam, a European equity specialist with assets under management of 200 trillion KRW. Fourteen European equity experts with an average of over 15 years of experience are dedicated to managing the fund. As of April 30, the underlying fund recorded a 5-year return of 52.6%, significantly outperforming the benchmark MSCI Europe NR return of 31.3%.

The fund, which received the highest rating of '5 STAR' from the global fund rating agency Morningstar, aims for long-term returns by investing in European innovative companies. Innovative companies are those with the potential to gain a competitive edge and lead their industries. Unlike most innovation funds that primarily invest in IT companies in Silicon Valley, USA, the Shinhan Candriam fund selects and invests in companies with innovation across various sectors in Europe, including beauty, food, and healthcare. It invests evenly in innovative companies across 10 advanced European countries, such as L'Or?al in France and Inditex in Spain, ensuring high stability.

Park Jung-ho, head of the Fund Solution Team at Shinhan Asset Management and the lead portfolio manager of the Shinhan Candriam fund, said, "Currently, Europe is temporarily undervalued due to the Russia situation, but the fundamentals of European companies are steadily growing, and future prospects are promising. Given the current turmoil in the Korean and US stock markets, European funds, which have generated low volatility and stable returns, could be an attractive alternative."

The Shinhan Candriam Europe Innovation Fund will be launched in two versions: a non-hedged (UH) and a hedged (H) version. The annual total fee is 0.850% based on the online fee-exempt version (C-e). Sales will begin on the 28th through Korea Investment & Securities, with plans to expand sales channels.