KB Asset Management Launches Blockchain Mutual Fund: Report
The fund will invest predominantly in U.S. companies, with lesser amounts in Japanese, European and Chinese firms.
KB Asset Management, the investment arm of KB Financial Group, South Korea’s largest financial company, has introduced the country’s first blockchain-focused mutual fund, the Korea Times reported Monday.
- The KB Global Digital Chain Economy fund will invest in three main areas, according to the report.
- One area of investment is companies that make the hardware required to support blockchain activities, such as Nvidia, AMD and Intel.
- A second arm is software companies providing blockchain-based services. Those include IBM, Amazon and Baidu.
- The third investment segment covers companies that use blockchain technology within their own businesses. PayPal, Square, NTT Data and Tencent were identified.
- The fund will invest predominantly in U.S. companies, with smaller allocations placed in Japanese, European and Chinese firms.
- KB Asset Management had more than $90 billion under management as of February, according to Korea Financial Investment Association data cited on the KB Asset Management’s website.
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