Korea’s Samsung Asset Management has expanded its ETF capabilities after buying a 20% stake in US-based Amplify Holdings.
The investment will see Samsung AM become the exclusive distributor of Amplify’s ETFs in Asia.
The two will also look to jointly develop new products for the Asia market. A statement from Amplify founder and CEO Christian Magoon said that it “will receive significant funding and organisational support from Samsung to accelerate the growth of our business”.
Amplify has more than US$4.4 billion of assets under management across its various ETF products while Samsung AM has more than $258 billion in AuM, making it one of the largest managers in Korea.
“We expect to be able to offer more innovative investment solutions in Korea as well as in the Asian region through close collaboration with Amplify,” said Samsung AM chief executive Phillip Suh.
© 2022 funds global asia