Robot advisor company Pount announced on the 31st that its subsidiary Pount Investment Advisory has launched the retirement pension asset management service "Pount Retirement Pension Discretionary Service" in collaboration with Hana Bank.
The retirement pension robot advisor discretionary service automatically creates a portfolio based on an algorithm developed through big data analysis according to the investor's tendencies and manages the individual retirement pension (IRP) on a discretionary basis. While discretionary services for retirement pensions were not possible in the past, the Financial Services Commission temporarily relaxed regulations due to the designation of innovation financial services (regulatory sandbox) at the end of last year, allowing for discretionary management of IRPs.
Pount Investment Advisory applied for the designation of innovation financial services for the retirement pension robot advisor discretionary service in September of last year. Subsequently, it began developing the service in earnest in collaboration with Hana Bank and started testing from early this year.
Pount emphasized that it has launched the first retirement pension robot advisor discretionary service across the financial sector by integrating financial services and technology development know-how through collaboration with Hana Bank, one of the largest retirement pension providers in South Korea, with total retirement pension reserves exceeding 40 trillion won.
The Pount retirement pension discretionary service is available to new and existing IRP account holders of Hana Bank. Customers can sign up for a product that fits their investment strategy through the Hana One Q mobile app. The products offered are ▲ global stocks ▲ global growth areas and sectors ▲ comfortable investment for you, totaling three types.
Global stocks employ a strategy of diversifying investments across various sector asset classes in the global stock market. Global growth areas and sectors are managed by configuring fund portfolios for customers who wish to invest in regions or industries expected to have high economic growth rates or operating profit margins.
Comfortable investment for you is a strategy that focuses on investing in target date funds (TDF), adjusting the ratio of risky assets and safe assets according to the retirement time, while recording excellent performance in the U.S. market over the long term.
Kim Young-bin, CEO of Pount, noted, "There were many difficulties in developing a service that didn't exist before, but through collaboration with Hana Bank, we were able to achieve the accomplishment of being the industry's first release by incorporating the financial and information technology (IT) experiences and know-how of both companies," and added, "We will gradually expand the development of retirement pension robot advisor discretionary services, starting with Hana Bank to other financial institutions."