Samsung Asset Management Absorbs Samsung Hedge Asset Management Through Merger

[Asia Economy Reporter Koo Eun-mo] Samsung Asset Management announced on the 24th that it will merge Samsung Hedge Asset Management through an absorption merger. The merger is planned to take place on August 1, pending approval from financial authorities.

The company explained that it decided to pursue the merger because the assets under management decreased due to intensified competition in the private market, making it impractical to maintain Samsung Hedge Asset Management as a separate entity. Samsung Asset Management established Samsung Hedge Asset Management, a specialized private asset management company focused on hedge fund strategies, as a subsidiary in January 2017.

Going forward, out of Samsung Hedge Asset Management's total assets under management of approximately 590 billion KRW, 380 billion KRW in bond-type funds will be directly managed by Samsung Asset Management, while 210 billion KRW in equity-type funds will be entrusted to Samsung Active Asset Management for management.

A Samsung Asset Management official stated, “We will continue to operate hedge funds that can respond to customer demand, such as absolute return private funds,” and added, “We will faithfully fulfill the legal obligations arising from the merger to ensure thorough protection of investors.”

This content was produced with the assistance of AI translation services.