KB Asset Management, a member of the largest South Korean financial conglomerate KB Financial Group, has announced the launch of a fund focused on retail clients concentrated on crypto products in the form of indices and ETFs.
Currently, financial institutions in the country are limited in providing direct access to the new asset class.
The firm has formed a committee to prepare for digital asset management. The structure will be engaged in market research, development of investment strategies, as well as risk assessments and compliance issues for investment funds.
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It is assumed that the created products will have a low correlation with traditional assets, and they will be directed to a part of the pension savings managed by the company.
According to the company's website, KB Asset Management managed $94 billion in assets in February.
Recall that in September 2021, KB Asset Management launched a mutual fund with a focus on blockchain.