Samsung Asset Management announced that it will start offering a discretionary asset management service via Samsung Securities based on an algorithm co-owned with Quarterback Asset Management, a robot-advisor (RA) specialist, starting on the 14th.
A robot-advisor is a non-face-to-face asset management service that automatically configures and manages a portfolio based on algorithms driven by artificial intelligence (AI) and big data technology, analyzing the investor's tendencies, goals, and market conditions.
The service, introduced by Samsung Asset Management and Quarterback Asset Management, allows the management of personal retirement pension (IRP) savings without the participant directly instructing the management of the savings, as the robot-advisor of the investment discretionary operator gives the instructions instead. The contribution limit is 9 million won per IRP account annually and increases by 9 million won each year. The remaining limit can be carried over.
A Samsung Asset Management official noted, "Based on the expertise in managing retirement pensions and marketing capabilities accumulated over time, we plan to collaborate with Quarterback Asset Management to reliably provide robot-advisor services to more retirement pension customers."