, Korea

Samsung Asset targets top 3 rank among Asian ETF operators

Samsung Asset Management Co. is developing new products with a view to joining the ranks of Asia's three largest exchange-traded fund operators by 2015.

The South Korean company 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 and it plans to launch a product investing in Chinese stocks at the end of this year.

It is seeking to raise the net asset value of its ETFs to 15 trillion won or US$13.5 billion over the next three years with these new products.

Samsung Asset Management 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."

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 and it plans to launch a product investing in Chinese stocks at the end of this year.

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