KakaoBank said on the 29th that the combined balance of its funds has surpassed 1 trillion won.
KakaoBank in January 2024 became the first internet-only bank to launch a fund service based on its own license. Since then, the market has grown rapidly and customer demand for funds has increased. In fact, according to the Korea Financial Investment Association, as of the end of July this year, the balance of public offering fund sales increased by about 50 trillion won from the start of the year to surpass 300 trillion won.
In line with this trend, KakaoBank fully revamped its fund service in 8th. It expanded its product lineup from the previous 23 to 45 to broaden choices, and in Jun. it unveiled the parking-type investment product "MMF Box" (money market fund), introducing a short-term cash management product as well. As a result, as of the 25th, the combined balance of funds and MMFs invested by KakaoBank customers exceeded 1 trillion won. Of that, the fund service balance was about 217 billion won, and the MMF Box balance was 810 billion won.
In particular, for the fund service, after the expansion of the fund lineup, there was a notable inflow of customers into artificial intelligence (AI) and aerospace theme funds, which are promising sectors in the market. The top funds for new account openings were "Mirae Asset Rational AI Global Momentum" and "NH-Amundi Global Aerospace," in that order. It is analyzed that investing was done easily and conveniently in sectors expected to have promising growth in the future through KakaoBank.
KakaoBank said, "From securities firms' stock account openings, securities firms' domestic and overseas stock transactions, and IPO subscription information services to fund services and MMF Box, we are introducing a variety of investment services," and added, "We will continue to expand the investment context and establish ourselves as an even easier and more convenient mobile investment platform."
Note that financial investment products may entail the possibility of losing principal, and invest with the understanding that past performance does not guarantee future returns.