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Korea’s active ETF to debut in U.S. market for the first time

Collected: 2016.09.29

Distributed: 2016.09.30

Source: Go Direct

Korea Investment Management Co. will list its active exchange traded fund (ETF) in the United States, becoming the first Korean active ETF listed on the U.S. exchange that will allow overseas investors to buy Korean growth stocks in a more affordable manner.

The Korean Investment Management said on Wednesday that its actively managed EFT will debut on the New York Exchange on Thursday (local time). There are seven Korean ETFs now traded on the NYSE, but all of them are passive ETFs that track the MSCI Korea index or other indexes. Among Korean asset managers, Mirae Asset Global Investments Co. listed a passive ETF that tracks the Kospi 200 index in 2014, but it was delisted in April.

Unlike a passive ETF, an active ETF allows an asset manager to make decisions on the underlying portfolio allocation for investment to seek extra returns. Korea Investment Management will employ its time-tested fund strategy to select top growth stocks for the fund.

For the Korean asset manager, it represents another milestone fund export to overseas following its navigator fund of Korean stocks exported to Europe through SICAV in 2013.

The company decided to list the active ETF considering the U.S. has an advanced ETF market. Korea Investment Management signed a partnership agreement with Advisors Shares, a U.S. asset management company, last September to prepare for the listing. Advisors Shares has a track record of listing many competitive active ETFs in the U.S.

By Bae Mi-jung

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