Shinhan Asset Management

Shinhan Asset Management is a South Korean investment-management company headquartered in Seoul and operating as a subsidiary of Shinhan Financial Group. The company manages and distributes investment products across several major asset classes, including fixed income, domestic and overseas equities, hybrid strategies, money-market funds, and derivatives. It is positioned within the Shinhan group as a specialist asset-management platform rather than as a publicly listed standalone company. The business was established in August 1996 under the name Shinhan Investment Trust Management, with initial capital of 30 billion South Korean won. Its early development was linked to the expansion of Shinhan's financial-services franchise and to the growth of Korea's investment-trust and fund-management market. By January 1999, its assets under management had reached 10 trillion won, according to the company's historical timeline reproduced in the English-language Wikipedia article. The ownership structure changed substantially during the following decade. In 2002, BNP Paribas acquired an interest in the company, creating a strategic partnership between Shinhan Financial Group and the French banking group. The business adopted the name Shinhan BNP Paribas Investment Trust Management and later became Shinhan BNP Paribas Asset Management. The partnership was subsequently organized with Shinhan Financial Group holding 65% and BNP Paribas holding 35%. This relationship gave the asset manager access to an international financial partner while retaining Shinhan as the controlling shareholder. The company expanded its product and investment capabilities during the 2010s. It opened a Hong Kong office in 2010 with Type 4 and Type 9 licenses regulated by Hong Kong's Securities and Futures Commission. It also introduced alternative and long-short investment products, including the Myongjang APAC Equity Long/Short fund in 2011, described in the reference material as Korea's first hedge fund. Further equity long-short products followed in 2013 and 2014. In 2014, the firm became the first Korean asset-management company to receive a Renminbi Qualified Foreign Institutional Investor quota, and in 2015 it launched a mainland-China RQFII fund. The ownership partnership ended in January 2021, when Shinhan Financial Group acquired BNP Paribas's 35% stake. The company consequently became wholly owned by Shinhan Financial Group and dropped “BNP Paribas” from its name, operating as Shinhan Asset Management. At the end of 2020, before that ownership change, the company was reported to have approximately US$55.6 billion in assets under management. That figure is time-specific and should not be treated as a current assets-under-management figure. Shinhan Asset Management's overall business scope spans public-market and alternative investment capabilities. Its offerings include fixed-income funds, Korean equity products, overseas-equity products, hybrid funds, money-market funds, derivative-related products, and long-short or hedge-fund strategies. The available reference material does not identify a current chief executive, current assets under management, official website, or a detailed breakdown of its present-day product range. Those fields are therefore left unspecified rather than inferred.

Shinhan Asset Management was founded in August 1996 as Shinhan Investment Trust Management with capital of 30 billion South Korean won. The company developed within the Shinhan financial group during a period in which investment trusts and professionally managed funds were becoming a more important part of South Korea's financial system. Its assets under management reached 10 trillion won by January 1999, according to the historical chronology associated with the company. In 2002, BNP Paribas acquired an interest in the business. The transaction created a partnership between Shinhan Financial Group and BNP Paribas and led to the name Shinhan BNP Paribas Investment Trust Management. The company subsequently operated under the Shinhan BNP Paribas Asset Management name. The partnership was structured with Shinhan Financial Group as the majority shareholder, holding 65%, and BNP Paribas holding 35%. A later 2008 memorandum of understanding formalized plans for the joint asset-management company, followed by the 2009 operating structure. The company's development during the 2000s included increasing Shinhan control. Shinhan Bank became the majority owner of the related asset-management business in 2006 and held all of it by 2007, before the later joint-venture structure with BNP Paribas was established. The company also underwent management changes, including the appointment of Jean Audibert as chief executive in 2005; the available reference material does not provide a complete list of subsequent executives. International expansion became more visible in the 2010s. In August 2010, the company established a Hong Kong office with Type 4 and Type 9 licenses regulated by the Securities and Futures Commission. It launched the Myongjang APAC Equity Long/Short fund in December 2011, described in the source chronology as the industry's first hedge fund. The manager followed with a Korean equity long-short fund in 2013 and a Korean Asia long-short fund in 2014. These launches broadened its capabilities beyond traditional long-only funds. The company also expanded its access to Chinese markets. In October 2014, it became the first Korean asset-management company to obtain a Renminbi Qualified Foreign Institutional Investor quota. It used that authorization for a China Mainland RQFII fund launched in January 2015. Alongside these initiatives, the business maintained a broad product portfolio covering fixed income, Korean and overseas equities, hybrid strategies, money-market funds, and derivatives. The joint venture with BNP Paribas ended in January 2021. Shinhan Financial Group bought BNP Paribas's 35% holding, making the asset manager a wholly owned Shinhan subsidiary. The “BNP Paribas” portion of the name was then removed, and the business became Shinhan Asset Management Co., Ltd. The company was reported to have US$55.6 billion in assets under management at the end of 2020, immediately before the ownership transition. No current AUM figure, current executive roster, or official website is identified in the supplied source material.

• 2021

  Company becomes wholly owned by Shinhan Financial Group

  [1]Shinhan Asset Managementen.wikipedia.org

  Shinhan Financial Group acquired BNP Paribas's 35% stake, and the company changed its name to Shinhan Asset Management.

• 2015

  China Mainland RQFII Fund launched

  [1]Shinhan Asset Managementen.wikipedia.org

  The company introduced a mainland-China fund using its RQFII access.

• 2014

  RQFII quota obtained

  [1]Shinhan Asset Managementen.wikipedia.org

  Shinhan became the first Korean asset-management company identified in the source chronology as gaining an RQFII quota.

• 2011

  Myongjang APAC Equity Long/Short launched

  [1]Shinhan Asset Managementen.wikipedia.org

  The company launched the Myongjang APAC Equity Long/Short fund, described in the source chronology as Korea's first hedge fund.

• 2010

  Hong Kong office established

  [1]Shinhan Asset Managementen.wikipedia.org

  The company established a Hong Kong office with Type 4 and Type 9 licenses regulated by the Hong Kong Securities and Futures Commission.

• 2009

  Shinhan BNP Paribas Asset Management joint venture begins

  [1]Shinhan Asset Managementen.wikipedia.org

  The joint venture operated with Shinhan Financial Group holding 65% and BNP Paribas holding 35%.

• 2002

  BNP Paribas enters the ownership structure

  [1]Shinhan Asset Managementen.wikipedia.org

  BNP Paribas acquired an interest in the company, which adopted the Shinhan BNP Paribas Investment Trust Management name.

• 1999

  Assets under management reach 10 trillion won

  [1]Shinhan Asset Managementen.wikipedia.org

  The company's historical timeline records assets under management reaching 10 trillion won in January 1999.

• 1996

  Company established as Shinhan Investment Trust Management

  [1]Shinhan Asset Managementen.wikipedia.org

  The asset manager was founded in August 1996 with capital of 30 billion South Korean won.

A Shinhan Financial Group asset-management platform combining South Korean distribution and investment capabilities with international investment and cross-border product experience.

• Fixed income

  Fixed-income products

  The company's fixed-income range forms part of its traditional asset-management offering. The supplied reference material identifies fixed-income products as a core category but does not provide specific fund names, mandates, maturities, or current performance information.

• Equities

  Domestic equity products

  Shinhan Asset Management offers investment products focused on domestic South Korean equities. The source material does not specify individual current funds or portfolio-construction methods, but domestic equity management is listed among the company's principal product areas.

• Equities

  Overseas equity products

  The overseas-equity category gives the manager exposure beyond South Korea and is consistent with its international investment activity, including its Hong Kong presence and China-related products. Specific current geographic mandates are not identified in the supplied material.

• Money-market funds

  Money Market Funds

  Money-market funds are included in the company's stated product range. The available source does not identify particular fund names, assets, yields, or distribution channels.

• Hedge fund and alternative strategies · 2011

  Myongjang APAC Equity Long/Short

  Launched in December 2011, Myongjang APAC Equity Long/Short was an Asia-Pacific equity long-short strategy. The source chronology describes it as the industry's first hedge fund, although the available material does not provide further details on its assets, investment process, or current status.

• Cross-border investment fund · 2015

  China Mainland RQFII Fund

  Launched in January 2015 after the company obtained an RQFII quota, this fund provided a vehicle for mainland-China investment under the Renminbi Qualified Foreign Institutional Investor framework. Current availability and portfolio details are not provided.

• 2021

  Shinhan Financial Group buys BNP Paribas's minority stakeM&A

  Background

  The joint ownership arrangement had continued with Shinhan Financial Group holding 65% and BNP Paribas holding 35%.

  Action taken

  Shinhan Financial Group acquired BNP Paribas's 35% interest, making the asset manager wholly owned by Shinhan.

  Aftermath

  The company dropped “BNP Paribas” from its name and operated as Shinhan Asset Management.

  Source

• 2014

  Expansion of access to mainland-China investmentsStrategy

  Background

  The company sought to broaden its cross-border investment capabilities and product coverage.

  Action taken

  It obtained an RQFII quota and subsequently launched a mainland-China RQFII fund in 2015.

  Aftermath

  The initiative added a China-focused cross-border product to the firm's international offering.

  Source

• 2011

  Launch of Myongjang APAC Equity Long/ShortProduct launch

  Background

  The company was expanding from traditional asset classes into alternative and long-short investment strategies.

  Action taken

  It launched the Myongjang APAC Equity Long/Short fund.

  Aftermath

  The launch was followed by additional Korean and Asian equity long-short products in 2013 and 2014.

  Source

• 2002

  BNP Paribas investment creates a strategic asset-management partnershipM&A

  Background

  Shinhan Investment Trust Management sought to develop its asset-management business through an international financial partnership.

  Action taken

  BNP Paribas acquired an interest in the company, which changed its name to Shinhan BNP Paribas Investment Trust Management.

  Aftermath

  The partnership developed into the Shinhan BNP Paribas Asset Management joint venture, with Shinhan as majority shareholder and BNP Paribas as minority shareholder.

  Source

1. 1Shinhan Asset Managementen.wikipedia.org