Samsung Asset Management to set up two subsidiaries

By 최희석

Published : Aug. 19, 2016 - 18:23

[THE INVESTOR] Samsung Asset Management is to establish two spinoff subsidiaries on Jan. 1.

Samsung Asset Management said on Aug. 19 that the move is aimed at increasing the efficiency of its businesses.

One of the subsidiaries tentatively named Active Asset Management will be established with 30 billion won (US$ 26.76 million) capital, and it will specialize in collective investment and investment consultations, the company said.

The other subsidiary, tentatively named Hedge Asset Management, will have capital of 10 billion won, and focus on hedge funds.

By Choi He-suk (cheesuk@heraldcorp.com)