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Amplify ETFs and Samsung Asset Management Launch the Amplify Samsung SOFR ETF (SOF)

By: via GlobeNewswire

CHICAGO, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Amplify ETFs announces the launch of the Amplify Samsung SOFR ETF (SOF) in partnership with Samsung Asset Management (Samsung AM). SOF is an actively managed ETF aimed at providing current monthly income and reducing risk exposure. SOF seeks to deliver the monthly income and total return after fees and expenses of the Secured Overnight Financing Rate (SOFR), as published by the Federal Reserve Bank of New York.

SOF is designed to deliver higher monthly yield potential and total return over cash without materially increasing duration risk. Samsung AM serves as the sub-adviser offering investors access to an institutional management team at an expense ratio of 0.20%.

“Investors are turning to money market funds and other income producing investments due to increased income potential and equity market uncertainty. We are excited to be the first US ETF Issuer seeking to deliver the closely watched Secured Overnight Financing Rate’s (SOFR) monthly income and total return after fees and expenses,” said Christian Magoon, CEO of Amplify ETFs. “Our strategic partnership with Samsung AM has produced this timely opportunity for US investors and it is a great honor to collaborate with Samsung AM on their first ETF initiative in the US.”

“We are proud to build on the legacy of Samsung Asset Management through our New York office by launching our first US-listed ETF with our strategic partner Amplify ETFs,” said Bongkyun Suh, CEO of Samsung Asset Management, the largest asset manager in Korea. With extensive experience managing short-term interest income, Samsung AM was the first to list an overnight interest income ETF in Korea and are managing approximately $5.8 billion in short-term interest income ETFs, including the Kodex SOFR ETF. 

SOFR replaced LIBOR in June 2023 as the standard benchmark for interest rates for dollar-denominated derivatives and loans. SOFR has proven a more transparent and reliable benchmark for managing interest rate risk and borrowing costs in the US. As of November 8th, 2023, the Secured Overnight Financing Rate was 5.32%.

Learn more about SOF at AmplifyETFs.com/SOF.

About Amplify ETFs
Amplify ETFs, sponsored by Amplify Investments, has over $4.3 billion in assets across its suite of ETFs (as of 9/30/2023). Amplify ETFs deliver investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. To learn more visit AmplifyETFs.com.

About Samsung Asset Management
Samsung Asset Management (“Samsung AM”) is the largest asset manager in Korea, with USD 231 billion in AUM (as of 10/31/2023). With more than 300 investment professionals, the firm offers a full spectrum of investment strategies, across diverse asset classes ranging from equity, fixed income, alternative investments and multi-asset solutions via mutual funds, ETFs, and SMAs. Samsung AM currently has a global presence, with offices in Hong Kong, New York, and London

Sales Contact:
Amplify ETFs
855-267-3837
info@amplifyetfs.com

Media Contact:
Gregory FCA for Amplify ETFs
Kerry Davis
610-228-2098
amplifyetfs@gregoryfca.com

Carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectus carefully before investing.

Investing involves risk, including the possible loss of principal. You could lose money by investing in the Fund. There can be no assurance that the Fund’s investment objectives will be achieved. The Fund is new with limited history to evaluate. There is no assurance that SOFR, or rates derived from SOFR, will perform in the same or similar way as other more established rates would have performed at any time. The Fund’s use of financial instruments involving counterparties, including swap arrangements, involves risks that are different from those associated with ordinary portfolio securities transactions. The Fund expects to invest principally in repos (Repurchase Agreements). If the seller fails to repurchase the security and the market value of the security declines, the Fund may lose money.

There is risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. The Fund may hold certain investments that may trade over-the-counter, trade in limited volume, or lack an active trading market. The Fund is subject to management risk because it is an actively managed portfolio. The Fund currently has fewer assets than larger funds, and like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time. Because the Fund is non-diversified, it can invest a greater portion of its assets in securities of individual issuers so that changes in the market value could cause greater fluctuations in Share price than would occur in a diversified fund.

Amplify Investments LLC is the Investment Adviser to the Fund, and Samsung Asset Management (New York), Inc. serves as the Investment Sub-Adviser.
Amplify ETFs are distributed by Foreside Fund Services, LLC.

Not FDIC Insured | No Bank Guarantee | May Lose Value 


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