20% Stake Investment in Specialized ETF Manager 'Amplify'
[Asia Economy Reporter Hwang Yoon-joo] Samsung Asset Management is strengthening its capabilities in the global exchange-traded fund (ETF) business.
On the 1st, Samsung Asset Management announced that it has made a 20% equity investment in Amplify, a U.S.-based specialized ETF management company. Through this, it has obtained exclusive sales rights for Amplify products in Asia. Additionally, it will receive support for Amplify's product development capabilities and network.
Founded in October 2014, Amplify had assets under management (AUM) of 5.2 trillion KRW as of last year and is an independent ETF management company ranked around 30th in the U.S. ETF industry, specializing in the development of specialized ETF products.
It has launched mega-hit products with AUM exceeding 1 trillion KRW, such as Blockchain (BLOK), Online Retail (IBUY), and High Dividend Income (DIVO). Among the 15 total products launched, six have recorded AUM of over 100 million USD (approximately 121.5 billion KRW), developing numerous best-selling ETFs and being recognized as the top among competing independent management companies.
Seo Bong-gyun, CEO of Samsung Asset Management, said, "Through close collaboration with a global management company that possesses innovative product development capabilities, we expect to introduce a variety of market-leading ETF products in Korea and Asia." He added, "Samsung Asset Management plans to actively build a foundation for future growth as a global advanced management company, using this equity investment as a stepping stone."
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