KB Asset Management Launches Blockchain Mutual Fund: Report

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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