Daishin Asset Management said on the 27th it will list the "Daishin KOSPI200 Index Fund" on the Korea Exchange's main board under the ticker name "Daishin KOSPI200 Index X Class." It is the industry's first listing of a public offering fund.
Starting today, investors can trade the fund through domestic brokerages' home trading system (HTS) and mobile trading system (MTS).
Listing public offering funds is a system that moves away from subscribing through bank or securities firm counters and allows real-time trading on the stock market like an exchange-traded fund (ETF). This is the first listing since the Financial Services Commission (FSC) designated the "public offering fund listing and trading service" as an innovative financial service in Nov. last year.
"Daishin KOSPI200 Index X Class" tracks the KOSPI200 index and seeks excess returns by using derivatives and event-driven strategies. Since its launch in Jan. 2002 through the 22nd, it has posted a cumulative return of 1,022%, outperforming the KOSPI200 index by 546 percentage points. It has also recorded a 75% return this year.
Compared with existing listed active ETFs, it is relatively free from constraints, allowing even more active management in areas such as portfolio strategy. The fund is managed directly by Chief Executive Officer Jeong Man-seong of Daishin Asset Management.
A Daishin Asset Management official said, "The 'Daishin KOSPI200 Index Fund' has proven its long-term performance capabilities through a portfolio manager vetted for more than 10 years and systematic risk management," adding, "Public offering funds will establish themselves as a new investment alternative in a transparent, highly liquid market."