AdvisorShares has partnered up with Korea Investment Management Co. to launch an actively managed South Korea exchange traded fund focused on growth-oriented companies.
The recently launched AdvisorShares Kim Korea Equity ETF (NYSEArca: KOR) is sub-advised by Korea Investment Management Co., South Korea’s largest independent asset manager with an established equity investment approach. KOR has a 0.99% net expense ratio.
“Korea Investment Management delivers a well-established record with an institutional pedigree of an unparalleled expertise of the Korean equity market,” Noah Hamman, chief executive officer of AdvisorShares, said in a press release. “Not only can advisors and investors now access the Korean equity market through the country’s leading asset manager, they can do so with the full-transparency, intraday liquidity and the enhanced overall efficiencies of an ETF structure.”
KOR will managed by Young-seok Lee, Sang-min Lee, Jun-il Han, Hyo-Chan Kim, Hyun-mi Kim and Tae-hoon Kim.
“Our steadfast investment approach has been long-committed to bringing sustained success and outperformance to our institutional client base,” Hong-Rae Cho, chief executive officer of Korea Investment Management, said in a press release. “Our portfolio management team investments in companies and industries with favorable prospects thus capturing new dynamism of companies with new business models, new technologies and new markets, which provides an opportunity to deliver returns in excess of our benchmark to KOR shareholders.”