NH-Amundi Asset Management

What NH-Amundi Asset Management does

NH-Amundi Asset Management is a Seoul-headquartered, privately held Korean asset management joint venture founded in January 2003 and owned 60% by NongHyup Financial Group and 40% by Amundi (Europe's largest and a global top-10 asset manager with 2,597 trillion KRW / ~1.9 trillion EUR AUM across 35 countries). The firm operates as a comprehensive, multi-asset manager offering 121+ funds spanning domestic and global equity, fixed income, ETFs, real estate, infrastructure, alternatives (including a private hedge fund launched November 2018), and total-solution mandates such as Good Earth OCIO (March 2022) and Signature OCIO (June 2023). Its product architecture includes the HANARO ETF platform (launched March 2018), HANARO TDF lifecycle retirement series (launched June 2019), an ESG 'ESG First' platform built around a Stewardship Code adopted December 2018, and thematic funds covering K-semiconductors, global aerospace, European defense, and robotics.

The company is the 7th-largest Korean asset manager by AUM, with 57.4 trillion KRW (approximately USD 42 billion) under management at end-2024 (referenced at ~60 trillion KRW in CEO communications), up roughly 15x from 3.9 trillion KRW at inception. It monetizes AUM through disclosed total annual fund fees ranging from 0.245% (short-term bond funds) to 1.6253% (global aerospace fund Class H), with multiple share classes (fee-based front-load Class A/선취, no-load Class C/미징구, online Class S/온라인, pension Class C-P, institutional Class I) tailored to channel and investor type.

Distribution combines captive NongHyup channels (1,332 bank branches and 6,200+ mutual cooperative locations serving ~2.09 million members), third-party Korean brokerages and banks (NH투자증권, KB국민은행, 삼성증권, Mirae Asset, 신한금융투자, 한국투자증권, and others), the KRX-listed HANARO ETF marketplace, direct digital online share classes, and an institutional salesforce for pension/OCIO mandates. Disclosed FY2024 operating revenue was KRW 92,492 million on KRW 29,998 million net income (FY2022–2024 revenue CAGR ~4%), supported by KRW 162,972 million in total assets and KRW 140,130 million in total equity. The firm employs 51–100 staff, consistent with an asset-light operating model that relies on parent-group distribution and back-office infrastructure.

Name

NH-Amundi Asset Management

Legal name

NH-Amundi자산운용 주식회사

Website

https://nh-amundi.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

51–100 employees

Short description

NH-Amundi Asset Management is a Seoul-based joint venture (60% NongHyup Financial Group, 40% Amundi) operating Korea's 7th-largest asset manager with 57.4 trillion KRW (~USD 42B) in AUM across 121+ equity, bond, ETF, alternatives, and OCIO funds, distributed through NongHyup's 6,200+ cooperative and 1,332+ bank branches plus third-party brokerages.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

akta.pro secondary industries

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG), Registered Investment Advisor (RIA) Wealth Management (FSAEABAA), Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

Keywords

• Asset management services
• Mutual funds investing
• Exchange traded funds
• Retirement pension planning
• ESG investment solutions

Headquarters

HQ city

Yongdungpo

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: NH-Amundi generates revenue primarily through management fees charged on its assets under management (AUM) across its range of mutual funds, ETFs, and separately managed accounts. Fee structures vary by product type, with equity funds typically charging higher fees (e.g., 1.55% total annual fee for Growth Korea fund) and index/passive funds charging lower fees (e.g., 0.26%-0.45% for index products). The company also earns operating revenue from alternative investment products and overseas investment mandates.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

NH-Amundi Asset Management is a Korean asset management company that manages and distributes investment funds across equity, fixed income, overseas, real estate, infrastructure, ETFs, and multi-asset total solutions. It serves primarily Korean retail investors through its domestic network of bank branches, mutual cooperatives, third-party securities firms, and its own HANARO ETF platform, while also providing OCIO and pension share classes for institutional clients. The firm operates a comprehensive fund lineup of 121+ funds including domestic and global equity funds, bond funds, leverage funds, index funds, target-date funds, and ESG-integrated products.

Differentiator

Problem solved

Functional benefit

Brands

• HANARO ETF: ETF brand operated by NH-Amundi, including HANARO Fn K-Semiconductor ETF, HANARO TDF, and other index-based exchange-traded funds.

Products and services

• HANARO ETF Platform Exchange-traded fund brand offering index-tracking and thematic ETFs listed on the Korean Exchange (KRX), including HANARO Fn K-Semiconductor ETF, HANARO European Defense ETF, and other global index ETFs, accessible through all Korean securities firms.
• HANARO TDF (Target Date Fund) Target-date fund series that aligns retirement savings with investors' lifecycle stages, designed for individual retirement accounts and corporate retirement pensions.
• Good Earth OCIO Asset Allocation Fund (올바른지구 OCIO) Outsourced CIO multi-asset allocation fund providing multi-manager diversification across global assets for institutional investors.
• Signature OCIO Fund Multi-manager outsourced CIO allocation fund for institutional clients seeking diversified global asset allocation with professional management.
• Victorious Korea Fund (필승코리아 펀드) Domestic equity fund focused on Korea's representative growth industries and competitive advantage sectors, available in multiple share classes including Class A, C, and online variants.
• Growth Korea Leaders Fund (성장주도코리아 펀드) Domestic equity fund investing in representative industries driving Korea's growth, with a total annual fee of 1.55% for Class A share.
• Global Aerospace Fund (글로벌우주항공 펀드) Global equity fund focused on the aerospace and space industry, available in H-share and UH-share classes with total annual fees of approximately 1.62%.
• Korea 2X Leverage Fund (코리아 2배 레버리지) Korea's first public leverage fund offering 2x leveraged exposure to domestic equities through derivatives, classified as Very High Risk.
• 10-Year Treasury Index Fund (국채10년 인덱스) Korea's first 10-year government bond index fund tracking the domestic 10-year treasury benchmark with total annual fee of 0.27%.
• Hanaro Short-Term Bond Fund (하나로 단기채) Short-term Korean bond fund offering conservative fixed-income exposure with total annual fee of 0.245% and Very Low risk rating.
• India Large Cap Focus Fund (인도대형주포커스) Overseas equity fund providing focused exposure to large-cap Indian equities through fund-of-funds structure.
• ESG Integrated Investment Platform ESG-integrated investment framework covering environmental, social, and governance factors across all investment processes, including philosophy, strategy, evaluation framework, and stewardship code disclosure.
• Private Hedge Fund and Alternative Investment Business Private hedge fund and alternative investment products including real estate and infrastructure investments, offered alongside public fund lineup for qualified investors.

Quantifiable outcome

• AUM grew from 3.9 trillion KRW (2003) to 57.4 trillion KRW (2024), representing ~15x growth over 21 years
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Star Health and Allied Insurance Company LimitedminorOthers · 25 June 2026Star Health hosted an investor meeting in London on June 30, 2026 with Amundi Asset Management and three other European asset management firms (Pictet Asset Management, Generation Investment Management, and Polar Capital Partners) to present Q4FY26 performance. This demonstrates Amundi's engagement with international institutional investors.
• Pictet Asset ManagementminorOthers · 25 June 2026Pictet Asset Management participated alongside Amundi in Star Health's investor meeting in London, alongside Generation Investment Management and Polar Capital Partners.
• Generation Investment ManagementminorOthers · 25 June 2026Generation Investment Management, a UK-based ESG-focused asset manager, participated alongside Amundi in Star Health's investor meeting in London, alongside Pictet Asset Management and Polar Capital Partners.
• Polar Capital PartnersminorOthers · 25 June 2026Polar Capital Partners, a UK-based investment management firm, participated alongside Amundi in Star Health's investor meeting in London, alongside Pictet Asset Management and Generation Investment Management.
• NongHyup Financial Group (NH농협금융지주)coreStrategic or Co-development Partner · 1 January 2003NongHyup Financial Group holds 60% ownership in NH-Amundi Asset Management. The partnership combines NH's unmatched domestic network (1,332 bank branches, 6,200+ cooperative locations, 2 million+ members) with Amundi's global asset management expertise. NH-Amundi represents a global collaboration model between Korea's agricultural cooperative and France's Credit Agricole (Amundi's predecessor). The joint venture was established on January 28, 2003.
• Amundi Asset ManagementcoreStrategic or Co-development Partner · 1 January 2003Amundi holds 40% ownership in NH-Amundi. As Europe's largest and global top 10 asset manager with approximately 2.1 trillion EUR in AUM and presence in 35 countries, Amundi provides NH-Amundi with international investment frameworks, ESG integration methodology, product development capabilities, and global distribution reach.

Scale indicators12 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Mirae Asset Global Investments: Korea's largest asset manager offering mutual funds, ETFs, and alternatives with strong retail and institutional distribution. Comparable as a top Korean asset manager competing for the same AUM pool and distribution channels, including bank partnerships.
• KB Asset Management: Korean asset management subsidiary of KB Financial Group, offering mutual funds, ETFs, and pension/retirement products through KB bank's distribution network. Directly comparable as a bank-affiliated Korean asset manager with similar retail-pension mix.
• Samsung Asset Management: Asset manager affiliated with Samsung Group with strong brand recognition and broad fund lineup across equity, bond, and alternative strategies. Comparable as a Korean asset manager competing in similar product categories and channels.
• Korea Investment Management: Korea Investment & Securities' asset management arm offering mutual funds and ETF products to retail and institutional clients. Comparable as a top-10 Korean asset manager with multi-product offerings.
• Shinhan Investment Asset Management: Asset management subsidiary of Shinhan Financial Group offering mutual funds and ETFs through Shinhan Bank's network. Comparable as a bank-affiliated Korean asset manager leveraging affiliated bank distribution to grow AUM.
• Hana Financial Investment Asset Management: Asset management arm of Hana Financial Group offering diversified mutual fund and ETF products to Korean retail and institutional investors. Comparable as a financial-affiliated Korean asset manager competing in similar product categories.
• Hyundai Investments Asset Management: Asset management subsidiary of Hyundai Group providing mutual funds and ETFs to Korean investors. Comparable as a top-tier Korean asset manager with diversified product lineup and similar retail/institutional client mix.

Broad incumbents

• Amundi Asset Management: NH-Amundi's 40% parent and Europe's largest asset manager (~2.5T EUR AUM, 35 countries). While also a JV partner rather than a pure competitor, Amundi offers overlapping capabilities globally and in Korea, making it comparable as the parent/incumbent in the broader asset management space.
• BlackRock: World's largest asset manager with significant Korean operations through iShares ETFs and institutional mandates. Comparable as a global incumbent competing for Korean institutional asset allocations and ETF market share (e.g., iShares K-semiconductor product set).
• Vanguard: Global leader in low-cost index funds and ETFs that pressures fee economics across Asian asset managers including Korea. Comparable as the global low-cost incumbent whose product philosophy is reshaping Korean retail savings behavior toward passive vehicles.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@nh-amundi
• Instagraminstagram.com/nhamundi.official
• LinkedInlinkedin.com/company/nh-amundi-asset-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NH-Amundi Asset Management