Korea Investment & Securities said on March 17 it has signed a strategic memorandum of understanding with global asset manager JP Morgan.
In October last year, Dan Watkins, head of JP Morgan Asia-Pacific, visited Korea Investment & Securities’ headquarters and discussed cooperation measures for domestic investors with CEO Seong-hwan Kim (김성환). After specifying the business direction, Korea Investment & Securities began exclusive sales on March 9 of the monthly payout “JP Morgan Global High Yield Fund.”
The product has attracted about 81.2 billion won in retail money as of the previous day. Korea Investment & Securities plans to use this as a starting point to expand the supply of financial products that use a range of underlying assets such as global growth stocks and bonds.
“I am pleased that cooperation with JP Morgan Asset Management will allow us to provide customers with more professional and differentiated global investment solutions,” Kim said. “We will continue to strengthen our global financial network.”
Sangyeop Oh
yub@d-today.co.kr