Jang Ji-young, who laid the cornerstone for IGIS Asset Management’s Securities Division, completes four-year term [fnMarketWatch]

[Financial News] Jang Ji-young (pictured), who led the Securities Division at IGIS Asset Management for four years, is stepping down after completing the term. During Jang’s tenure, the division’s cumulative commitments grew to about 2 trillion won. It also established an investment framework spanning bonds and REITs, equities, mezzanine investments and global asset allocation.
According to investment banking (IB) industry sources on the 15th, Jang stepped down as head of the Securities Division on September 30, when the term expired. After taking office in October 2022, Jang led the division for about four years, serving one renewed term. Jang will serve as an adviser starting in November. The company plans to appoint a successor division head as part of its regular reorganization later this year. An internal candidate with deep knowledge of the business is reportedly the frontrunner.
Jang is a global bond expert who has managed fixed-income investments for more than 25 years. Jang managed bonds at Korea Post and the National Pension Service’s Fund Management Headquarters, and served as head of the NPS overseas bonds team. From 2016, Jang led the Global Fixed Income Division at Hanwha Asset Management Co., Ltd., growing the scale of overseas bond investments in Hanwha Life’s general account from 10 trillion won to 24 trillion won.
IGIS Asset Management established its Securities Division in April 2022 and brought Jang on board as its head that October. Jang added the Bond Investment Part and Product Solutions Part to the existing Alternative Securities Investment Part and Multi-Asset Investment Part (now the Hedge Fund Management Part), establishing a four-part structure. The division also set a strategy of targeting the market with new strategies and products rather than competing with large asset managers on scale.
Although the division was led by a bond expert, its products were not limited to a single asset class. Portfolio managers pursuing different strategies built their own track records across listed REITs, income strategies focused on bonds and REITs, Kosdaq venture investments and mezzanine investments, global asset allocation, and target-return strategies centered on domestic equities. New products broadened the range from income strategies focused on bonds and REITs to balanced strategies with a higher allocation to equities.
The global multi-asset fund launched in February 2023, the IGIS T-Frontier Private Placement Investment Trust No. 1 (formerly Core Multi-Asset EMP No. 1), posted a return of about 90% over the three years since its launch. With additional capital continuing to flow in, its net assets grew from 10 billion won at launch to about 40 billion won. The division’s first fund, the IGIS Kosdaq Venture Private Placement Investment Trust No. 1, launched shortly after the division was established, and the mezzanine fund IGIS Multi-Plus Private Placement Investment Trust No. 1 both completed their three-year terms and were liquidated with annual returns in the double digits. All four funds in the domestic-equity-focused target-return series GreenON, Nos. 1 through 4, achieved their target returns early and were liquidated; the division is currently managing No. 5.
The division also expanded in scale. Its cumulative commitments grew at least threefold, from about 600 billion won at launch to about 2 trillion won today. The Alternative Securities Investment Part, which invests in listed REITs, manages assets worth about 1 trillion won. In 2024, the division also broadened its retail reach by partnering with NH Investment & Securities to launch wrap-account products.
An IGIS Asset Management representative said, “From the early days of the Securities Division, Jang built the organization and product framework and laid the groundwork for portfolio managers pursuing different strategies to each deliver results.” The representative added, “The new head will build on this foundation to address challenges such as strengthening the division’s competitiveness in the market and sharpening its positioning relative to competitors.”
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