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Samsung Asset aims to rank among Asia's top 3 ETF operators

All Headlines 16:36 October 08, 2012

SEOUL, Oct. 8 (Yonhap) -- Samsung Asset Management Co., South Korea's top money manager, said Monday that it aims to join the ranks of Asia's three largest exchange-traded fund (ETF) operators by 2015 by developing new investment products.

In a press conference marking the 10th anniversary since the introduction of KODEX ETF, Samsung Asset Management said it is seeking to raise the net asset value of its ETFs to 15 trillion won (US$13.5 billion) over the next three years.

An ETF refers to an investment fund traded on stock exchanges and represents a basket of stocks that reflect an index.

Samsung Asset Management, which listed South Korea's first ETF product in 2002, is currently Asia's sixth-largest ETF manager with an asset value of 7.5 trillion won as of September and a 5.7 percent market share.

"With the exception of Japan which receives government funding, South Korea's ETF market is growing at the fastest pace in Asia," the company said. "We will surely be able to achieve the asset value target by 2015."

To that end, Samsung Asset Management said it plans to introduce diverse products covering stocks, bonds, raw materials and foreign currencies.

The asset management company said it will list an ETF combining stocks with bonds on the local bourse on Wednesday, and it plans to launch a product investing in Chinese stocks at the end of this year.

kmjx@yna.co.kr
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