Markit acquires license to Korea Investment Management

Markit iBoxx indices total assets stood at $4.7b.

In a release, Markit announced that its iBoxx USD Liquid High Yield index has been licensed to Korea Investment Management (KIM) to serve as the underlying benchmark for a new exchange traded fund (ETF) listed on the Korea Exchange.

The KIM KINDEX SYNTH-iBoxx DM High Yield ETF was launched today.

The Markit iBoxx indices are now licensed to a total of six ETFs in the Asia Pacific region with total assets of $4.7bn.

Armins Rusis, managing director and global co-head of information at Markit, said: “There is growing appetite for investing in ETFs in Korea and we are delighted that our iBoxx index was selected by KIM. This reinforces our position as the leading fixed income ETF index provider in Asia and Europe.”

Markit’s iBoxx USD Liquid High Yield index consists of liquid high yield bonds denominated in US dollars. It provides a balanced representation of the broad USD high yield corporate bond universe. Pricing for the index is provided by Markit's Bond Pricing service, which uses multiple observable price sources for pricing accuracy.

KIM was established in 1974 as the first Investment Trust Management Corporation in Korea and manages diverse domestic and global assets for retail and institutional clients.

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