DAISHIN SECURITIES affiliate Daishin Asset Management said on the 29th that it was selected as the discretionary manager for on-exchange trading of the housing & urban fund anchor REITs (real estate investment trusts).
The Ministry of Land, Infrastructure and Transport created a 465 billion won housing & urban fund anchor REIT in 2020 to revitalize the domestic listed REITs market. Since then, it has established itself as a major investor in the REITs market.
In particular, 2024 saw the anchor REITs' role expand into the secondary market. This was to resolve the low liquidity problem of domestic listed REITs. To that end, a separate active fund has been created for on-exchange trading.
Koramco REITs Management and Trust held an open call at the end of 2024 to select a discretionary manager to create an active fund of more than 30 billion won, but faced difficulties in raising outside investment. In this reselection process, Daishin Asset Management was chosen as the final manager after competing with Mastern Investment Management.
Daishin Asset Management received high marks for securing the largest number of letters of intent (LOIs) and letters of commitment (LOCs). Daishin Asset Management plans to raise outside investment capital to create the fund and breathe warmth into the REITs market.
Following the listing of Daishin Value REIT based on "Daishin343" as the underlying asset and the push for a global REIT based on Japanese assets, Daishin Asset Management is laying the groundwork in the REITs field with this selection as the REIT active manager.
A Daishin Asset Management official said, "This selection as the anchor REITs' on-exchange trading discretionary manager is the result of recognizing our REITs management capabilities and fundraising ability," adding, "We will contribute to improving liquidity in the REITs market and restoring investor confidence."