Asset Management
NongHyup Financial Group presented in their business strategy that they will foster asset management as the group’s core competence.
The financial group stated through their “2014 Management Strategy and Vision” on Dec. 22 that they are going to implement the system of chief investment officer to carry out the efficient administration and management of asset management affairs.
NongHyup Life Insurance and Property Insurance is aiming at increasing the proportion of highly profitable assets through overseas and alternative investments. NongHyup Bank made a decision regarding their internal system that the fund department will manage the circulative fund, while the fund management department will be in charge of the investment fund.
The financial group is also planning to increase the percentage of outside management of assets owned by the bank and insurance companies from the current 15 percent to 30 percent by 2020, concentrating on a small number of institutions that come with the highest output.
NH-CA Asset Management will actively advance into sectors such as alternative investment and exchange-traded funds (ETF), along with greatly supplementing professional manpower, enabling the company to sprout into what will become a pan-NongHyup core asset management institution.
The strategy is to bolster the subsidiary into leading a domestic asset management firm by 2020, with managed assets of 66 trillion won (US$60 billion) and a net income of 65 billion won (US$59.2 million).
CEO Yim Jong-yong of NongHyup Financial Group stated, “We will foster asset management as our key competence to make NongHyup Finance a distinguished name in the field of asset management.”