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

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note