Friday, 3 July 2015
Last updated 14 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…