T Rowe Price launches retirement funds in Korea

businessman_targetT Rowe Price has launched two target-income funds in Korea in partnership with Korea Investment Management. The funds aim to provide a regular monthly retirement income by investing in a range of globally diversified assets. “Demand in South Korea for stable returns has grown as the country’s population ages and struggles with low birth rates as well as low interest rates,” said Nick Trueman, head of institutional business, Asia ex Japan at T Rowe Price. The funds follow the launch last year of two target-date products by T Rowe Price and Korea Investment Management. “South Korean investors are increasingly looking beyond their own borders to deliver reliable and durable retirement income,” said Cho Hong-Rae, chief executive of Korea Investment Management. ©2018 funds global asia

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