[Apha Biz=(Chicago) Reporter Paul Lee] Some large asset management companies are increasingly dependent on sales of affiliates.

According to the Korea Financial Investment Association on the 17th, the proportion of affiliate fund sales of major domestic asset management companies as of July 31 increased compared to the end of last year.

Samsung Asset Management sold 8.59125 trillion won in fund settings through affiliates such as Samsung Securities and Samsung Life Insurance, accounting for 30.18% of its total sales expenses. This share increased by 4.14 percentage points from the end of last year.

Mirae Asset Asset Management also saw its fund setting amount sold through Mirae Asset Securities and Mirae Asset Life Insurance reach 7.16 trillion won, up 1.41 percentage points from the end of last year. The total sales ratio also reached 39.13 percent.

Shinhan Asset Management also sold KRW 10.436 trillion through Shinhan Investment & Securities and Shinhan Bank. Sales rose 1.03 percentage points to 43.60 percent.

 

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