[THE INVESTOR] South Korea’s first robo-adviser based publicly place fund, launched by Kiwoom Asset Management, offered a yield of 3.42 percent, the firm said on Sept. 21.

The product with a diversified portfolio of exchange-traded funds, has 30.3 billion won (US$27.11 million) in assets under management. It was unveiled by the asset manager and Quarterback Investment, an automated financial investment algorithm startup, in April.

Lee Hyun, the chief executive officer at Kiwoom Asset Management, said that the robo-adviser based fund products meets investors’ growing appetite for middle-risk and middle-return investments in the era of the new normal.

“Robo-advisers are a suitable tool to analyze various global investment portfolio assets such as stocks, bonds, currency and non-financial assets at the same time,” he said.

The company said the fund’s annual yield target is 5 to 6 percent.

By Park Han-na (hnpark@heraldcorp.com)