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From Precy Dumlao, Opalesque Asia – South Korea’s market regulator, the Financial Services Commission has introduced several moves that will further boost the nation’s domestic hedge fund industry, it has been reported.
According to AsianInvestor.net, the FSC has lowered the entry barrier in the required assets under management of asset managers that are qualified to operate hedge funds to W1tln ($881m), or 10% of the previous W10tln requirement.
The FSC earlier reduced by 50% the minimum AuM requirement for securities firms to W500bn and for investment advisory companies to W250bn. The regulatory changes are expected to take full effect in November this year.
Last week, the state’s official news agency, Yonhap, reported that South Korea has eased its hedge funds’ regulations to enable asset managers and brokerage houses to put up operations in Seoul faster with the aim of nurturing the related sector.
Under the new regulations, asset managers whose money under management is more than $877.2m will be able to establish hedge funds.
The moves of the FSC are in anticipation of the surge in the country’s local hedge fund industry from institutional investors, it was learned.
In May, Song In-kyuhe former head of real-...................... To view our full article Click here
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