AssetPlus Offers Direct Fund Services

By Park Hyong-ki

Staff Reporter

AssetPlus Investment Management said Monday it will directly approach customers and provide asset management services, while marketing its fund products.

It aims to become a one-stop service provider through a two-way communication channel between the firm and its customers, instead of utilizing middlemen such as brokerage houses or banks.

``We tend to physically approach customers and provide direct services such as investment advice and stock information,'' Kang Bang-chun, chairman of AssetPlus, told a press conference.

He said the company will mainly provide such services to retail investors.

In most cases, asset management firms market their products through sister companies, such as securities companies and banks. But this sales channel made it difficult for customers to gain direct access to information on funds and capital management due to a lack of knowledge among sales staff at brokerages and banks.

AssetPlus, with a relatively small number of staff and fund managers, intends to become the first asset manager to provide direct services.

The company is about to begin its direct services with its first fund, the ``Global Rich Together.''

Although it may not be the right time to provide such a fund to customers amid rising inflation and stock market turmoil, Kang said, ``The current situation may seem like a crisis. But I see it as an opportunity.''

With demand continuing to rise among the rich globally, especially in emerging markets including the BRICs, the fund only invests in high-end industrial and luxury sectors worldwide.

The sectors include private aviation, cosmetics, financials, medical services and duty-free retail.

``We will inform customers that they can grab the opportunity at this time through the fund as the demand side in the high-end industry will continue to grow on rising income among the rich,'' said the chairman.

He added that such high-end sectors are relatively immune to economic volatility.

He said the fund would include assisting customers on ways to be patient and be a long-term investor.

``Although I believe it will take quite a long time for the current market situation marred by rising oil prices to abate, it will eventually recover in time,'' said Kang.

phk@koreatimes.co.kr