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Alternative Market Briefing

Korean hedge fund industry to expand to $2.8bn by 2016

Monday, September 09, 2013

Precy Dumlao, Opalesque Asia:

South Korean hedge funds are expected to grow to at least $2.8bn (three trillion won) by 2016 in tandem with the global growth of the industry, reported Business Korea. The current asset size of the Korean hedge funds space is estimated at $1.4bn (1.5 trillion won).

Shinhan Investment Corporation researcher Sohn Mi-ji, said that Korean hedge funds are expected outperform its counterparts in terms of profits and asset size.

According to the report, a sure sign that things are looking bright for the local hedge funds space was the 25.7% rate of return generated by Brain Asset Management as at end of August. Brain Asset, the first hedge fund of Baekdu, posted an earnings rate of 12.3% in the first eight months of 2013.

Since becoming an asset manager in September last year, Brain now accounts to 33% of the Korean hedge funds market with roughly $458m (500 billion won) in assets, a sharp increase from $192.6m (210.5 billion won) to $482.6m (527.4 billion won) between late last year and late August 2013.

In March, Baekdu it released its second hedge fund called Taebaek that focuses on a sector-by-sector long/short strategy utilizing macro indices. The report quoted Brain Asset as saying, "Our strategy of looking into corporate profits and deciding where to invest based on the growth potentials hit t......................

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