KCGI Asset Management said on the 6th that it has formed a strategic partnership with global asset manager Fidelity International and plans to launch funds that leverage Fidelity's global research and management capabilities.
Fidelity International, founded in 1969, manages $1.0554 trillion (as of the end of September last year, 1,523 trillion won) worldwide and, based on its global research capabilities, is one of the global managers that offer funds in more than 30 countries.
KCGI Asset Management, established in 2008, is a full-service asset manager that invests in domestic and overseas stocks and bonds as well as alternative assets, and is particularly specialized in public equity funds.
KCGI Asset Management said, "Cooperation with Fidelity, which has world-class global research and management capabilities, will be a decisive opportunity to enhance KCGI's global research and management capabilities and lift client returns to the next level."
Fidelity said, "We expect synergy in product marketing and management through our partnership with KCGI Asset Management, which has a deep understanding of the Korean market and strong active management capabilities."
The two companies plan to launch new funds managed by KCGI Asset Management by sharing Fidelity's global research and model portfolios. The funds will invest in U.S. technology stocks, focusing on U.S. artificial intelligence (AI) tech corporations with global market dominance and strong long-term growth potential, while adding high-quality domestic bonds to ensure stability.
KCGI Asset Management said, "The first product will be a fund investing in U.S. AI tech corporations," adding, "This is the first time Fidelity International has partnered with a domestic asset manager to launch products."