KB Asset Management, the management arm of KB Financial Group, the largest financial conglomerate in South Korea, announced the launch of a retail-focused fund with a focus on crypto products in the form of indices and ETF.
Currently, financial institutions in the country are restricted from providing direct access to this asset class.
The firm has formed a committee to prepare for the management of digital assets. The committee will conduct market research, develop investment strategies, and assess risks and compliance issues for investment funds.
It is expected that the products will have low correlation with traditional assets, and a portion of the firm’s pension assets will be allocated to them.
According to the company’s site, assets under management at KB Asset Management stood at $94 billion as of February.
Earlier in September 2021, KB Asset Management launched a mutual fund focused on blockchain.
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