Mirae Asset Global Investments announced on September 2 that it surpassed 3 trillion won Target Date Fund(TDF) for the first time among Korean investments companies.
It's been half a year since the KRW 2 trillion won in trusts broke in February of this year.
According to the Korea Financial Investment Association, Mirae Asset's TDF as of the closing price on August 31 was KRW 3.22 trillion won. This year, it increased by 1.27 trillion won.
Mirae Asset Global Investments preemptively launched TDF in 2011. Mirae Asset TDF, which was worth KRW 375.5 billion won at the end of 2018, exceeded 1 trillion won in November 2019, 2 trillion won in February 2021, and 3 trillion won in August 2021.
Mirae Asset Global Investments is the largest TDF manager in Korea with a 43.7% market share in the domestic TDF market.
Mirae Asset TDF is a product that invests in various assets around the world using its global network and automatically adjusts the proportion of investment assets according to a specific target date.
Mirae Asset Global Investments is the first independent TDF manager in South Korea that has designed and operated the Glide Pass since the launch of TDF.
“Investors unfamiliar with pension asset management are interested in Mirae Asset TDF, which automatically adjusts the proportion of investment assets,” said Ryu Kyung-shik, managing director of Mirae Asset Global Investments’ WM Pension Marketing Division. "We will try our best to provide a comprehensive pension solution.”
The Korean TDF market is growing rapidly. The size of the South Korean TDF market, which was 1.37 trillion won at the end of 2018, has grown rapidly to 4.2 trillion won at the end of 2020. As of the end of August this year, it amounted to 6.91 trillion won.
