Published : Oct. 19, 2014 - 20:55
Samsung Securities is poised to launch a multisector bond mutual fund as part of its effort to reinforce its medium-risk investment package, the company said last week.
On Oct.16, the Samsung brokerage unit signed a strategic partnership deal with Pioneer Global Asset Management, or Pioneer Investments, according to the firm’s spokespeople.
Pioneer Investments is a U.S.-based global investment firm with offices in 28 countries. Its assets were tallied at 185.5 billion euros ($238 billion) as of the end of this June.
Pioneer Investments’ executives including Jack Lin (left), head of Asia Pacific, Middle East and Africa, and their Samsung Securities counterparts including chief market strategist Chung Young-woan (second from right) pose after the two sides signed a strategic partnership deal on Oct.16 agreeing to launch a medium-risk bond fund here. (Samsung Securities)
Based on the newly formed partnership, Samsung Securities will launch a new multisector fund called the Pioneer Strategic Income Fund ― a medium-risk fund that will seek to disperse its assets into a wide variety of unrelated global bonds.
“There is a growing need for secure and stable investment tools that aim for medium risk, medium returns,” said Chung Young-woan, chief market strategist at Samsung Securities.
“Our goal is to diversify the range of investments and the asset management methods, so as to give our customers a wider variety of choices.”
Figures show that multisector funds have recorded a steady average profit rate of 7 percent per year over the past decade as they were found to have been relatively immune to bond interest rate changes, according to Samsung Securities.
Since 2011, the Samsung brokerage house has been establishing alliances with asset management companies that have strengths in specific regions or investment fields.
By Bae Hyun-jung (
tellme@heraldcorp.com)