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KB Asset Management launches first metaverse fund

KB Financial Group's corporate logo (KB Financial Group)
KB Financial Group's corporate logo (KB Financial Group)
KB Asset Management announced Monday that it has launched the industry’s first metaverse fund.

KB Asset Management said it will invest in 30 to 50 stocks after considering 200 to 300 stocks in South Korea, the US, China and Japan that meet the investment conditions. The US stocks will account for 70 percent, the highest proportion of any country, while hardware and platforms will make up 30 percent each.

The fund will be investing in Facebook, Apple, Microsoft, Autodesk, NVDIA, Unity Software, Roblox, Naver, Hybe, Amazon, Qualcomm and Snowflake.

“It is not easy for individual investors to select and invest in fast-evolving metaverse economic beneficiaries. So we launched a fund so that they can easily invest in the metaverse, which is rapidly emerging as a mega-trend,” said Lee Hyun-seung, CEO of KB Asset Management.

The metaverse describes a virtual world shared by internet users, particularly through virtual reality and augmented reality, and has emerged as the hottest trend for companies around the globe. Global consulting company PricewaterhouseCoopers said the metaverse-related economy will grow from 50 trillion won ($44.77 billion) in 2019 to 540 trillion won in 2025 and 1,700 trillion won in 2030. 

By Park Ga-young (gypark@heraldcorp.com)
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