About us
(Seoul=Yonhap Infomax) Soo Yong Lee – As investor interest in equities grows, South Korea’s retirement pension market is shifting toward performance-driven asset management, with Mirae Asset Life Insurance Co. rapidly expanding its performance-based retirement pension reserves.
According to retirement pension disclosures from the Financial Supervisory Service (FSS) released on the 25th, Mirae Asset Life’s combined performance-based reserves for defined contribution (DC) retirement pensions and individual retirement pensions (IRP) reached 745.7 billion won ($570 million) in the third quarter.
This represents a 54% increase from the same period last year. Among life insurers with more than 50 billion won ($38 million) in non-principal-guaranteed reserves as of Q3, Mirae Asset Life posted the highest growth rate.
The results reflect the company’s strategy to expand investment-type retirement pension assets, translating into tangible performance. Mirae Asset Life views this as evidence that its long-term, investment-oriented pension management system is taking root, beyond simply achieving short-term returns.
Jeon Soon-pyo, head of the retirement pension business at Mirae Asset Life, said, “The core of retirement pensions is building a foundation for long-term compound growth, rather than focusing on short-term yields. We will continue to concentrate on steadily increasing retirement pension assets.”
Mirae Asset Life was the first in the industry to introduce the concept of global diversification to investment-type retirement pension management through its Global MVP Fund series. The MVP Fund is a discretionary asset allocation fund that diversifies across domestic and overseas equities, bonds, and alternative investments, and conducts quarterly rebalancing based on market conditions.
sylee3@yna.co.kr
(End)
© Yonhap Infomax. All rights reserved. Unauthorized reproduction, redistribution, AI learning and utilization prohibited.
Copyright © Yonhap Infomax Unauthorized reproduction and redistribution prohibited.