Korea Investment Management announced on December 29 that the 'Korea Investment Global Space Technology & Defense Fund' ranked first in three-month and six-month returns among funds in the same category. The fund is currently available for subscription through Korea Investment & Securities and Mirae Asset Securities.
According to FnGuide on the same day, the fund achieved returns of 18.01% over three months and 37.88% over six months, making it the top-performing public offering fund (including ETFs) with the 'space' theme launched in Korea (based on UH-type A-e class). During the same period, the average returns for funds in the same category were 6.20% and 19.35%, respectively. The fund's cumulative one-year return was 56.93% (based on UH-type C-e class).
The Korea Investment Global Space Technology & Defense Fund, established by Korea Investment Management in 2023, is characterized by its selection and inclusion of leading global companies in space technology and defense. The fund's recent strong performance is largely attributed to the news that Elon Musk's SpaceX is pursuing an IPO next year, which has led to a revaluation of stocks for related supply chain (value chain) companies.
The fund's strategy of not only focusing on traditional defense companies but also investing in emerging space companies with high growth potential-such as low Earth orbit satellite firms and reusable launch vehicle companies-has contributed to its success. In addition, recognizing the characteristics of growth stocks, the fund has researched the list of NASA partner companies to assess technological capabilities and potential not reflected in financial statements.
As of December 17, according to the official website of Korea Investment Management, key portfolio holdings include satellite data analytics specialist Planet Labs; Rocket Lab, a strong competitor to SpaceX and a leader in the small launch vehicle market; AST SpaceMobile, an innovator in low Earth orbit satellite communications; as well as traditional large-cap defense stocks such as Lockheed Martin and Northrop Grumman, thereby establishing a comprehensive 'space value chain' portfolio.
The fund's lead portfolio manager, Kim Hyuntae, who heads the Global Quantitative Investment Division at Korea Investment Management, also manages the 'Korea Investment Global AI & Semiconductor TOP10 Fund,' a flagship artificial intelligence (AI) fund with 950 billion won in net assets.
Kim stated, "While recent space companies have attracted attention in the stock market due to expectations for the SpaceX IPO, the essence lies in the commercialization of space. With the maturation of reusable launch vehicle technology, most of the technological foundations for space development have been established, and AI is stimulating demand for space infrastructure such as satellite data analytics and space data centers."
He added, "I have managed both funds with the view that AI and space are structurally key industries for long-term growth in our era. As I believe the space industry will become the next mega-trend in growth stock investing after AI, I will continue to invest in core companies with space-based technologies."
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