Business

Amplify announces partnership with Samsung Asset Management

Posted March 31, 2022 11:00 pm

WHEATON - Amplify Holding Co. LLC Friday said Samsung Asset Management has made a minority investment in the company.

Amplify is a Wheaton-based sponsor of exchange traded funds. An ETF is a collection of stocks or bonds, managed by experts, in a single fund that trades on major stock exchanges, like the New York Stock Exchange and Nasdaq.

Samsung AM, the leading asset manager in Korea, has acquired a 20% equity stake in Amplify through its U.S.-based company, Samsung Asset Management U.S. Holdings Inc.

With this transaction, Amplify and Samsung AM form a strategic business alliance in the ETF space. Samsung AM obtains exclusivity to provide Amplify products in Asia. In addition, both companies will jointly develop new products and marketing strategies, Amplify said.

"We are pleased to begin a strategic business partnership with Samsung Asset Management, a globally recognized asset manager, giving us exposure to the growing Asian ETF marketplace," said Christian Magoon, Amplify CEO and founder.

Amplify has more than $4.4 billion in assets across its suite of ETFs.

Article Comments

Article Categories
Business Communities Finance Wheaton

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.