Korea Investment Trust, Kiwoom Launch Defense and Space ETFs on July 7, Targeting South Korea's Top 5 Defense Contractors and SpaceX

According to Korea Exchange, on July 7, Korea Investment Trust Management and Kiwoom Asset Management launched two new exchange-traded funds. Korea Investment Trust Management introduced ACE K Defense TOP5+, a passive ETF allocating 80 percent to South Korea's five largest defense contractors—Hyundai Rotem, LIG Ndefense, Hanwha Aerospace, Korea Aerospace Industries, and Hanwha Systems—with a management fee of 0.45 percent. The five companies had combined order backlogs exceeding 100 trillion Korean won as of end-May, with Q1 operating profit growth of 20-50 percent year-over-year. Kiwoom Asset Management simultaneously launched KIWOOM U.S. Space Tech TOP2 Bond Mixed 50, allocating 25 percent each to SpaceX and Rocket Lab with 50 percent in short-term domestic bonds and charging 0.21 percent in fees. Both products enable retirement account investment given their bond components.
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