Mirae To Upgrade Hong Kong Hedge Fund Effort

Sep 27 2011 | 12:44pm ET

South Korea's Mirae Asset Global Investments is planning to launch a hedge fund business in Hong Kong.

The firm already runs what Hong Kong CEO Woong Park called "quasi hedge funds" from the city, although those funds are domiciled in Korea. But now, the firm plans a full hedge fund business in Hong Kong, part of its increasingly aggressive global expansion plans.

"I strongly believe that this disruption comes from a shift in the economy from developed markets to emerging markets," Park told the Financial Times. Mirae has already bought Taiwanese asset management and Canadian exchange-traded funds companies this year, and could make "some more acquisitions in Asia and maybe in developed nations, as well," Park said.

Mirae's new Hong Kong hedge fund unit is planning a flexible multi-asset fund and an Asia long/short fund. The new funds would be marketed to Korean investors—among others—pending new regulations allowing Korean companies to employ leverage and short-selling.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR