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Komfie Manalo, Opalesque Asia for New Managers:

The first three local hedge funds run by South Korean securities firm were off to a good start and are expected to introduce more type of hedge funds, reported Business Korea .

NH Investment & Securities’ NH Absolute Return 1, the hedge fund that was introduced only two months ago, has already raised $252m as of October 17. The firm’s plan to raise at least $265m within this year is likely to be achieved soon, company insiders said.

On September 1, Taurus Investment & Securities launched its hedge fund called Taurus Government Bond Master Alpha Investment Trust 1 and has since raised nearly $10m. Taurus Investment plans to raise at least $88m soon and up to $884m in the first half of 2017. The hedge funds is targeting a 2.75% rate of return.

Meanwhile, Korea Asset Investment Securities’ hedge fund Korea Asset Classic Public Offering Fund 1 raised nearly $15m on its first month of trading. The hedge fund invests primarily in government and public bonds, top-rated corporate bonds and publicly offered shares. Korea Asset said it plans to raise $17.7m for the hedge fund and target at least a 7% yearly return.

The three hedge funds were the first ones to be launched since Au......................

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