Samsung Securities inks MOU with U.S. investment company
Samsung Securities said yesterday that it has signed a cooperation agreement with U.S. firm Neuberger Berman on asset management businesses. The investment management company manages $247 billion in assets and has 30 offices in 17 countries.
The Korean brokerage firm said in the memorandum of understanding (MOU) it will provide Neuberger Berman products overseas and cooperate to develop new ones. Samsung Asset Management will be in charge of converting Neuberger Berman’s products into an on-shore fund based on Korean currency so that customers can invest more easily. The MOU states that Samsung Securities will sell Neuberger Berman’s China Fund exclusively in the Korean market.