Shinhan Bank said on Dec. 2 that cumulative sales of its target-conversion funds, run as a strategic product this year, have passed 1 trillion won.
The funds are designed to switch automatically to bond investments once they hit target returns, helping secure gains.
The bank launched 13 products since January and reached cumulative sales of 1.11 trillion won as of Dec. 1. Eight products worth 460.5 billion won hit target returns of 7 to 8 percent. The bank has been releasing products monthly, including Korea equity and global semiconductor themes.
A campaign to stimulate the domestic stock market, launched in June under the name ‘Again Korea’, played a key role in driving sales. Korea equity fund sales surpassed 2 trillion won in about five months after the campaign started.
The bank recommends three Korea equity strategic products to improve access to domestic corporate investment: a growth type, a dividend type and an index type. From June 16 to Dec. 1, they posted cumulative returns of 34.4 percent, 27.1 percent and 47.6 percent.
The bank is also focusing on post-sale management. It regularly reviews customer holding-period returns and proposes portfolio strategies for products with weak performance, aiming to improve customer returns.
A bank official said the target-conversion funds are receiving steady interest because they structurally support customers in achieving returns. The official said the bank will continue to strengthen asset management services that consider both profit and stability.