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Korea Investment sells First Sentier’s infra fund

(From top) Logos of Korea Investment & Securities, First Sentier Investors and Kiwoom Asset Management
(From top) Logos of Korea Investment & Securities, First Sentier Investors and Kiwoom Asset Management
Korea Investment & Securities, a Seoul-based brokerage house, said Sunday that it has started selling a new product to indirectly invest in equities of global companies dedicated to infrastructure projects in developed countries.

The new product is a feeder fund of the Global Listed Infrastructure Fund by Sydney-based First Sentier Investors. Local investment firm Kiwoom Asset Management is an underlying manager of the structured investment product.

The product for South Korean end-investors is part of a fund-of-funds structure of Global Listed Infrastructure Fund, which owns stake in companies including NextEra Energy, Transurban Group and Dominion Energy.

Korean end-investors are expected to take advantage of capital returns from the listed infrastructure portfolio such as dividend yields as they target asset classes ranging from logistics to utility, energy and telecommunications, according to Korea Investment.

“Global listed infrastructure companies’ equities are still deemed attractive investment destinations in that they allow investors to hedge inflation risks,” said Kim Sung-hwan, vice president of Korea Investment.

First Sentier manages 215 billion Australian dollars’ ($151 billion) worth of assets as of June. The company is under the umbrella of Mitsubishi UFJ Financial Group.

By Son Ji-hyoung (consnow@heraldcorp.com)
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