The investment management arm of AXA has signed a joint venture agreement with Korea’s Kyobo Life, further extending an existing strategic partnership.
AXA Investment Managers (AXA IM) has signed a new joint venture agreement with Korean insurer Kyobo Life, according to a statement. This further extends a 15-year strategic partnership that was first established in 2008.
The joint venture, Kyobo AXA Investment Managers, is a local Korean asset management company with AXA IM and Kyobo Life jointly owning 50 percent each. The firm’s scope of expertise includes equity, index, fixed income, global strategies, liability-driven investments and alternative investments.
Top 10 Player
As of 30 June 2023, the joint venture managed approximately 45 trillion South Korean won ($33 billion) in assets, primarily for large third party party institutions and retail clients in the country. This places it amongst the top 10 players in South Korea’s asset management industry.
«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,» said AXA IM global chief financial officer and general secretary Jean-Christophe Menioux.
