Samsung Asset, US 'SOF'... ETF.com Best New Bond ETF Candidate

by Ryu Hyunseok

Published 29 Feb.2024 14:36(KST)

Samsung Asset Management announced on the 29th that its strategic partner, the U.S.-listed ETF specialist Amplify, has nominated the ‘Amplify Samsung SOFR ETF (hereinafter SOF)’ as a finalist for the Best New Bond ETF at the ‘The 2024 ETF.com Awards’ by the U.S. ETF research firm ETF.com.

ETF.com is an independent U.S. ETF research company established in 2001. It publishes about 30 ETF-related research reports weekly and is one of the most reputable ETF research firms worldwide.

This award annually selects the most innovative products, asset managers, and index providers of the year in the U.S. ETF industry. Judges, including senior analysts from Bloomberg, review the nominees and announce the winners.

SOF is an ETF listed on the New York Stock Exchange in November last year by Amplify, a U.S. ETF specialist and strategic partner of Samsung Asset Management. It is a localized version of the investment strategy of the KODEX U.S. Dollar SOFR Rate Active ETF, which Samsung Asset Management was the first in the world to list on the domestic market in March 2023. It is also the first product based on a unique domestic ETF investment strategy to be listed on the U.S. stock market. Samsung Asset Management’s New York office is fully responsible for managing this product.

SOF tracks the yield of the SOFR (Secured Overnight Financing Rate), a benchmark interest rate published by the Federal Reserve Bank of New York, and currently offers a yield of 5.32%.

Seobonggyun, CEO of Samsung Asset Management, stated, “The bond management expertise and innovation of Kodex, combined with a successful partnership with Amplify, enabled us to create a product recognized even in the U.S., the home of ETFs. Samsung Asset Management will continue to strive to provide optimal solutions to investors through cooperation with Amplify.”

Christian Magoon, CEO of Amplify, emphasized, “SOF’s nomination for the ETF.com Awards is recognition from the investment industry as an innovative product. SOF is the first product listed in the U.S. market that meets investors’ dividend demands amid stock market uncertainties, and it is proof of the successful collaboration with Samsung Asset Management.”