KCGI Asset Management elevated its bond management team to a bond management headquarters and hired Hong Sa-wook, former head of bond management at Mirae Asset Global Investments, as the head on the 16th.
KCGI Asset Management noted, "We undertook organizational restructuring and talent acquisition to enhance the independence of bond management, systematize management functions, and expand product lines in order to establish long-term growth momentum."
The new head, Hong, was highly regarded for demonstrating performance in terms of stability and revenue while managing the representative bond fund "Mirae Asset Solomon Long-Term Government Bond Fund" at Mirae Asset Global Investments.
KCGI Asset Management said that Hong, the new head, possesses expertise in various areas, including asset allocation strategies, global management strategies, and risk management, which aligns with their direction to strengthen product development and management capabilities in the bond institutional sector.
KCGI Asset Management plans to employ strategies to respond to the rapidly growing retirement pension market and demand from pension funds, in addition to its actively managed equity funds that have achieved results thus far.
The new head, Hong, said, "I will do my best to build a system that can further enhance the bond management capabilities while focusing on the stable performance of KCGI Asset Management's existing bond-type flagship funds."