Fastest fundraise among pension investment pool alternative products
Korea Trade Insurance Corp. commits 80 billion won in major contribution
Samsung Asset Management said Wednesday that its policy-type alternative investment product, the Pension National Growth Fund No. 1, surpassed 100 billion won ($65.1 million) in cumulative commitments roughly two weeks after its launch.
The fund was established through the pension investment pool, an investment framework designed to consolidate and efficiently manage surplus funds held by public institutions. Samsung Asset Management, serving as the lead manager, designed and launched the fund in collaboration with Korea Growth Finance, structuring it to invest across a range of innovative growth sectors, including sub-funds under the National Growth Fund.
The fund was set up on June 9 with an initial contribution from the National Sports Promotion Fund, the first investor. On Monday, the Korea Trade Insurance Corp. made an additional commitment of 80 billion won, bringing total cumulative commitments to 110 billion won.
The fund has become the fastest alternative investment product established through the pension investment pool to raise more than 100 billion won.
The Korea Trade Insurance Corp.'s move is expected to serve as a benchmark for other public funds in shaping their asset management strategies.
Having entered the domestic venture capital market last year, the Korea Trade Insurance Corp. has now committed large-scale investments for two consecutive years, signaling a growing emphasis on securing not only stability and profitability but also public interest in its asset management.
Samsung Asset Management said the Korea Trade Insurance Corp.'s participation has prompted a wave of inquiries from various pension funds and public institutions.
"The Pension National Growth Fund No. 1 was designed with thorough consideration of the four core principles of asset management under the National Finance Act — stability, profitability, liquidity and public interest," said Shin Jae-gwang, executive director of Samsung Asset Management's investment pool business division. "We will spare no effort in rigorous risk management and delivering stable returns so that pension funds and public institutions can successfully fulfill their new role as socially responsible investors."
jiyun@heraldcorp.com
