NH-Amundi Asset Management Marks 20th Anniversary, Surpasses KRW 55 Trillion in Assets Under Management

[Asia Economy, reporter Lee Gwangho] Amundi Asset Management announced on February 20 that it surpassed KRW 55 trillion in assets under management (based on fund establishment amount) for the first time in 2023, marking its 20th anniversary.

Despite a turbulent financial market in 2022 caused by rising interest rates and increased volatility, the company’s assets under custody increased by KRW 2.5 trillion to reach KRW 50.4 trillion, and net profit for the year rose by KRW 1.6 billion to KRW 26.6 billion. This upward trend in assets under custody continued smoothly, with an additional KRW 4.6 trillion added in just over two months, reaching KRW 55 trillion.

NH-Amundi Asset Management achieved growth in a challenging market environment, driven by strong investment performance, particularly in bond-type funds (+KRW 1.1 trillion) and money market funds (MMF) (+KRW 300 billion) last year. The alternative investment division, which entered the market in 2016 as a latecomer, has also grown to manage assets worth approximately KRW 8 trillion. The global asset size of environmental, social, and governance (ESG) infrastructure projects, such as renewable energy, has also steadily increased. Since the beginning of the year, inflows into bond-type funds (+KRW 1.5 trillion) and MMFs (+KRW 2.9 trillion), driven by falling interest rates, have made significant contributions, and overseas assets have also grown.

Even amid a slump in public offering funds, the NH-Amundi Right Earth OCIO Asset Allocation Fund, launched in March 2022, surpassed KRW 100 billion in fund establishment amount in January, just about nine months after launch. This fund incorporates the global asset allocation, model portfolio, and ESG process of Amundi, its second-largest shareholder in France. Since the launch of the HANARO Exchange-Traded Fund (ETF) in 2018, the company has listed 36 ETFs and, in 2023, elevated its ETF division to the ETF Investment Headquarters to further strengthen its ETF business. This year, the company plans to continuously expand its overseas investment ETF offerings, jointly developed with Amundi, the second-largest ETF provider in Europe, as well as a variety of bond-type ETFs to meet investor demand.

Lim Dongsun, CEO of NH-Amundi Asset Management, stated, "Achieving a record-high level of assets under management was made possible thanks to our clients' trust in our commitment to customer satisfaction," adding, "As we celebrate our 20th anniversary this year, we will continue to act as a responsible global investment partner to our clients, deliver the best possible returns, and grow together with our clients."