AXA Investment Managers and Kyobo Life sign a new joint venture agreement
AXA Investment Managers (AXA IM) has announced that it has signed a new joint venture agreeement with Kyobo Life, thus continuing their strategic partnership which is in its 15th year since 2008.
The joint venture company, Kyobo AXA Investment Managers (Kyobo AXA IM), is a local Korean asset management company covering a large scope of expertise, including Judgmental Equity, Index, Fixed Income, Global strategies, Liability Driven Investments and Alternative Investments. It is jointly and equally owned (50%) by AXA IM (AXA Group’s investment management subsidiary) and Kyobo Life (Korea’s third-largest life insurance group). This joint venture draws on the expertise of AXA IM in global investments, including over 20 years of Responsible Investing (RI) capability, and Kyobo Life’s vast distribution network.
As at 30 June 2023, Kyobo AXA IM managed approx. KRW 45 trillion of assets, primarily for large 3rd party Korean institutions and retail clients, therefore placing it amongst the Top 10 players in the Korean Asset Management industry. Kyobo AXA IM also manages part of Kyobo Life’s General Account and Unit Linked, book of assets. Kyobo AXA IM has recently developed its own ESG framework, with the strong support of both shareholders, and has a clear ambition to becoming an ESG leader in Korea. With the global economy moving to a more sustainable model over the coming years the firm wants to be an active partner for clients as that transition takes place
Jean-Christophe Menioux, AXA IM Global Chief Financial Officer & General Secretary, said, “We are very excited to continue this trusted partnership with Kyobo Life and sincerely believe that this continued relationship will fuel our development strategy in Asia Pacific, a key region for us. With the support of Kyobo Life’s financial strength and network, we are committed to distributing more tailored, responsible and innovative solutions, together with our world-class asset management services, to Korean clients to help them build a better tomorrow”.
“We expect Kyobo AXA IM’s asset management capabilities to be further reinforced by continuing this partnership with AXA IM, a firm with global competitiveness in asset management. By leveraging on AXA IM's investment capabilities and its diverse range of products, Kyobo AXA IM will be able to provide better asset management services to Korean investors and also contribute to enhancing Kyobo Life’s asset management performance,” said Dae-Kyu Cho, Head of Kyobo Life’s Corporate Planning Division.