Reliance MF Ropes In Samsung AMC For Strategic Alliance

Friday, 24 April 2015, 10:52 Hrs
30
cmt right
22
Comment Right
64
cmt right
9
cmt right
Printer Print Email Email


MUMBAI: Top fund house Reliance Capital Asset Management Company today roped in the largest Korean asset management firm Samsung AMC for a strategic alliance, which will allow the two companies to manage, market and distribute each other's investment products in India and South Korea.

Samsung AMC, which manages assets worth over USD 165.8 billion and part of Samsung Group, is also looking to explore opportunities in the ETF market in India through this partnership.

RCAM, which runs Reliance Mutual Fund, is part of Anil Ambani-led conglomerate Reliance Group's financial services arm Reliance Capital, which already has strategic tie-ups with financial services giants, including Nippon Life from Japan for its insurance and mutual fund businesses, among others.

As part of the new MoU, signed today in Seoul by RCAM CEO Sundeep Sikka and Samsung AMC chief Sung Hoon Koo, both the companies "will use their expertise to explore areas for developing, managing, marketing and distributing each other’s investment products in India and Korea," they said in a joint statement.

The two firms will also seek to develop and explore business opportunities in active and passive strategies, leveraging upon their specific investment and distribution reach, in India and Korea.

RCAM said the alliance between two leading asset management companies will provide both Korean and Indian investors, seeking exposure in global equities, with enhanced investment opportunities and significant diversification benefits.



Read More:



New Kid On The Block: Rishad Premji To Join Wipro Board From May 1
Indian-Origin Trader Arrested In UK Over 2010 'Flash Crash'
Source: PTI

SPOTLIGHT
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..