Tuesday, 26 July 2016
Last updated 1 hour ago
Mar 7 2013 | 12:22am ET
Hyundai's financial services arm is set to seed a new Asia-focused hedge fund, its first-ever such venture outside of South Korea.
Hyundai Securities will provide the bulk of AQG Capital Management's initial capital, expected to be US$100 million, the Economic Times reports. AQG will be led by ABN Amro and K3 Capital Management veteran Kim Hong-shik, and will also feature Minsoo Seo, formerly of South Korea's sovereign wealth fund.
Singapore-based AQG will employ a quantitative market-neutral strategy, focused on Asian stocks.