SEOUL, KOREA - One out of three asset management firms took losses last year. Meanwhile, top-ten asset management firms accounted for 56 percent of the market share, with as much as 83 percent of net profit. According to the Financial Supervisory Service on May 23, 28 asset management companies reported a deficit during the fiscal year 2012 (April 2012 to March 2013) out of 84.
Of these, Goldman Sachs Asset Management took the largest loss of 16.3 billion won, followed by Asset Plus (6.1 billion won), KERR Asset Management (5.2 billion won), Phoenix Asset Management (5.2 billion won), and Deutsche Asset & Wealth Management (5.2 billion won). Those that earned most net profits included Mirae Asset Management (74.6 billion won), Korea Investment Value Asset Management (36.3 billion won), KB Asset Management (36.2 billion won), Samsung Asset Management (32.4 billion won), and Shinhan BNP Paribas Asset Management (31.8 billion won).
The sales revenue of top-ten firms was 351 trillion won with a market share of 56 percent. Their aggregate net profit of 273.2 billion won represented 83.1 percent of all profits earned by 84 asset management firms.
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