Woori, Singapore Sovereign Fund Plan Fund Of Funds

Feb 8 2010 | 8:24am ET

Woori Investment & Securities of South Korea is shuttering one of its hedge funds and launching a fund of hedge funds with Singapore’s sovereign wealth fund.

Woori’s Woori Absolute Partners has closed its US$60 million Absolute Asia Multi-Strategy Fund, which it launched in 2008. Some of those assets will be moved to a new US$30 million fund of funds to be set up with Fullerton Fund Management, part of Temasek Holdings.

“Initially, we had tried to do one our own but it was not easy,” a Woori official told Reuters. “It took time to find partners.”

Woori continues to manage a US$35 million absolute return fund.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of