German asset manager DWS has formed a strategic alliance with a South Korean asset manager to expand distribution - and its product shelf.
DWS and KB Asset Management have formed a strategic alliance, according to a statement, with a focus on liability-driven investment (LDI) strategies for insurance industry clients as well as for exchange-traded funds.
The tie-up will enable both firms to gain access to a broader range of investment solutions. For KB Asset Management, DWS will support an expanded offering that includes thematic ETFs while also using the alliance as a «springboard» for overseas expansion. DWS, for its part, will expand its reach in South Korea which it indicated is one of its fast-growing markets in the Asia Pacific.
KB is South Korea’s largest financial group and the parent of the nation’s largest lender KB Kookmin Bank, which had around 465 trillion won ($340 billion) in assets as of end-2021. According to data from industry body Korea Financial Investment Association, KB Asset Management had $94 billion in assets under management as of February 10 (also 2021).
