A memorandum of understanding for cooperation in asset management was signed in Seoul on April 19 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.
Sunghoon Koo, CEO Samsung Asset Management and Ariane de Rothschild, Chairwoman, Edmond de Rothschild
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.
Flagship European convertible bond fund distributed in South Korea
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.