Korean manager registers fund in France
Korean asset manager KB Asset Management has received the approval of French financial market regulator AMF for the distribution its KB Value Focus Korea Equity fund in the country at the start of April 2017, InvestmentEurope has learned.
The fund is being marketed through fund services provider Carne Group.
It is managed by Woong-pil Choi, is a sub-fund of the manager’s Luxembourg-domiciled KB Star Funds – Ucits Sicav launched on 20 June 2016.
The KB Value Focus Korea Equity fund invests primarily in stocks of Korean companies. It can also invest in South Korean govies and corporate investment grade bonds.
It seeks capital appreciation by applying a value-oriented strategy. Both value factors and growth potentials are considered while fundamentals lie at the core of the fund’s investment approach.
AUM of KB Asset Management totalled $46.09bn (€43.47bn) as at the end of June 2016.