Korea’s KIM takes Markit HY index as ETF benchmark
02 August 2013
News, Asia, Global, Korea
By Asia Asset Management
Global financial information services provider Markit announced on Thursday (August 1) that its iBoxx USD Liquid High Yield Index has been licensed to Korea Investment Management (KIM) to serve as the underlying benchmark for a new ETF listed on the Korea Exchange. The KIM KINDEX SYNTH-iBoxx DM High Yield ETF was launched on August 1.
The Market iBoxx indices are now licensed to a total of six ETFs in the Asia Pacific region with total assets of US$4.7 billion.
Armins Rusis, managing director and global co-head of information at Markit, said: “There is growing appetite for investing in ETFs in Korea and we are delighted that our iBoxx index was selected by KIM. This reinforces our position as the leading fixed income ETF index provider in Asia and Europe.”
Markit’s iBoxx USD Liquid High Yield Index consists of liquid high yield bonds denominated US dollars. It provides a balanced representation of the broad USD high yield corporate bond universe. Pricing for the index is provided by Markit’s Bond Pricing service, which uses multiple observable price sources for pricing accuracy.
Established in 1974, KIM is the first Investment Trust Management Corporation in Korea and manages diverse domestic and global assets for retail and institutional clients. The firm caters its clients a wide array of fund products including Navigator Fund, Samsung Funds, Meister Fund, Contrarian Fund, Vietnam Fund, Mid-term Government bond fund, and Long-term Corporate Bond Fund. KIM is one of the largest fund houses in Korea with total AUM of more than US$10 billion.
More News >