The Edmond de Rothschild Group has entered into a strategic alliance with Samsung Asset Management, South Korea’s largest asset management firm; the company, which is part of the financial division of the Samsung conglomerate, had €160bn under management at 31 December 2015.
A memorandum of understanding for cooperation in asset management was signed in Seoul on 19 April 2016. Under the terms of the partnership, Samsung Asset Management will reinforce its fund range by harnessing Edmond de Rothschild Asset Management’s expertise in European equities and corporate debt.
This will result in the South Korean firm launching a European high-dividend fund towards the end of the second quarter. Edmond de Rothschild Asset Management will act as the fund’s advisor and the investment process developed by its teams will be used by the fund. Subsequently, Samsung Asset Management will distribute Edmond de Rothschild Asset Management’s flagship European convertible bond fund in South Korea. The fund is currently going through the South Korean registration process. Both companies are also in talks over launching an Asian equity fund which will benefit from Samsung Asset Management's recognised expertise.
Ariane de Rothschild, Chair of the Edmond de Rothschild Group’s executive committee, welcomed the signing of this partnership with Samsung Asset Management, a major player on the fast-growing Asian market.
