ETF Leading Player

Samsung Asset Management has maintained the top position in the local exchange traded fund (ETF) market.
Samsung Asset Management has maintained the top position in the local exchange traded fund (ETF) market.

 

As Samsung Asset Management engrossed funds in the exchange traded fund (ETF) market this year, the company has maintained the top position in the market.

According to fund appraiser KG Zeroin on December 1, Samsung Asset Management’s net assets of an ETF increased by 1.57 trillion won (US$1.34 billion) this year and amounted to 12.4 trillion won (US$10.59 billion) as of November 29. The figure accounts for 56 percent of 2.8 trillion won (US$2.4 billion) of the total increase in net assets of an ETF in the asset management industry this year. Mirae Asset Global Investments, which threatened Samsung by scraping up over 1.5 trillion won (US$1.28 billion) last year, saw its net assets grow by as low as 516.1 billion won (US$440.92 million), half the figure last year.

By index, the assets of “Samsung KODEX Inverse ETF” were up by 674 billion won (US$575.82 million) over the beginning of the year, showing the highest rise. The figure had more than doubled from 504.5 billion won (US$431.01 million) earlier this year to 1.18 trillion won (US$1 billion) as of November 29. An official from the asset management industry said, “Since Samsung is the first-mover which introduced an ETF in the domestic market for the first time in 2002, the company has dominated the market in advance. In addition, the advantage has even more maximized as an exchange traded fund (ETF), whose market is led by Samsung, has become popular this year.”

Meanwhile, Kiwoom Asset Management, which ranked seventh in terms of net assets last year with 698.4 billion won (US$596.67 million), absorbed 545.8 billion won (US$466.3 million) this year, pushing its figure to more than 1 trillion won (US$854.34 million). This was because the company received a great benefit from the strong dollar this year as it launched the ETF lineup, which invests in the exchange rate of U.S. dollar, for the first time in the domestic industry. In fact, the net assets of “Kiwoom KOSEF Synth-USD Futures Leverage” grew 67.5 billion won (US$57.67 million) this year, more than quadrupled over the beginning of the year.

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