High net worth clients will be among the target markets for the firms.

Manulife, Samsung
Canada’s Manulife Investment Management and South Korea’s Samsung Asset Management have signed a memorandum of understanding to collaborate on areas such as private market investing and advisory services. High net worth clients will be among the target markets for the firms.

The MoU enables the Asian firm to take part in Manulife’s private asset strategies and their advisory and management services in public asset classes such as Asia fixed income. The MOU also enables the firms to develop and co-manage financial products for distribution in South Korea by Samsung Asset Management. 

“Innovative investment solutions such as private asset investments, offshore strategies and ESG opportunities will play an increasingly important role in helping investors in Korea accumulate wealth,” Paul Lorentz, president and chief executive, global wealth and asset management, Manulife Investment Management, said.

Manulife Investment Management oversees $758 billion of client money; Samsung manages a total of $233.4 billion in assets under management.