Hyundai Asset Management renames biotech ETF to 'UNICORN K-Bio Active'

Hyundai Asset Management announced Monday it has renamed its "UNICORN Kosdaq Bio Active" exchange-traded fund, which listed in May, to "UNICORN K-Bio Active."

The name change was made to strengthen alignment with the fund's benchmark, the FnGuide K-Bio Balanced Index, and to communicate its investment strategy more clearly.

The product is an actively managed ETF investing in biotech companies listed on Kosdaq. Its current holdings include LigaChem Biosciences at 8.88 percent, AprilBio at 8.84 percent, OliX Pharmaceuticals at 8.50 percent and ABL Bio at 7.87 percent.

The fund spreads investment across four core sectors of the domestic biotech industry — drug development, contract manufacturing and contract development and manufacturing (CMO/CDMO), aesthetic medicine, and traditional pharmaceuticals — adjusting sector weightings in response to market conditions to pursue excess returns.

"This name change is a measure to strengthen alignment with the benchmark index and improve the efficiency of product management," Hyundai Asset Management said, adding that it would work to establish the fund as a leading active ETF capable of effectively capturing the growth potential of the K-bio industry.