“We are very pleased to partner with Samsung Securities and Samsung Asset Management as Neuberger Berman expands its footprint in Korea and Samsung seeks to broaden its global investment line-up,” Andy Komaroff, chief operating officer of Neuberger Berman said.
In September, Neuberger expanded its UCITS fund range in Asia by registering nine of its funds in South Korea.
In response to Fund Selector Asia’s query on product plans, a Neuberger spokesperson said, “We won’t comment on specific funds, but we will address diversified demands in terms of asset class and strategies, including income-oriented and absolute return-oriented products from retail investors.”
Samsung Asset Management expects this agreement to enable a continuous exchange of expertise between Samsung and Neuberger Berman in areas such as portfolio management, market intelligence, product development and others, said Young June Park, head of the marketing division at Samsung Asset Management.
Samsung AM’s current product offering includes equity funds, namely Korea Leaders Equity Fund, Korea Strike Equity Fund, Korea Small-Mid Cap Focus Equity Fund, China Equity Fund, Great China Equity Fund, India Equity Fund and the ASEAN Equity Fund.
Samsung AM also has a series of exchange-traded funds launched under the brand name KODEX ETF tracking various Korean equity and fixed income indices apart from global indices.
Youngwoan Chung, head of the strategic business division at Samsung Securities, said the partnership helps in securing a broader range of global products to create a diversified client portfolio.
As a part of its expansion drive in Asia, Neuberger in April made 11 funds available to the retail market in Hong Kong and a further three in Singapore.
In May, the fund house also strengthened its marketing and sales team in Asia by appointing six new marketing and sales executives across its Hong Kong, Singapore and Taiwan offices.
