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AI-based robo-advisers gain popularity in Korea amid misseling mishap2021.03.18 14:02

Sumary of AI-based robo-advisers gain popularity in Korea amid misseling mishap2021.03.18 14:02:

  • Robo advisers, automated wealth management platform based on artificial intelligence (AI), saw a surge in money inflow last year in Korea after massive losses from scandalous asset fund fraud and misseling…
  • Korea leading robo adviser startup Fount recorded an annualized return of 12.04 percent as of the end of last year for investments of more than one year, according to industry sources on Thursday…
  • It surpassed the average yield of overseas asset funds at 10.19 percent and target date funds (TDFs) at 9.7 percent…
  • The algorithm-based robo advisers make investments or rebalance asset portfolio according to investors’ risk-taking tendency…
  • “Robo advisers basically provide asset rebalancing solutions based on financial and economic information of various countries and companies to help investors minimize loss-making risks,”..
  • said an official from the investment industry, adding that this means that their returns could possibly be lower than those of highest-performing fund or asset managers….

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