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[THE INVESTOR] Smaller and new hedge funds are making headway in South Korea, rising to rival those operated by large financial companies.
According to industry sources, Anda Asset Management has attracted 288.3 billion won (US$254.41 million) over the past year to become the country’s third largest hedge fund.
Anda Asset Management now trails the industry’s second-largest player Mirae Asset Securities by 109 billion won. A year ago the gap was 248.5 billion won.
According to industry sources, Anda Asset Management has attracted 288.3 billion won (US$254.41 million) over the past year to become the country’s third largest hedge fund.
Anda Asset Management now trails the industry’s second-largest player Mirae Asset Securities by 109 billion won. A year ago the gap was 248.5 billion won.
However, the industry’s fourth-largest player has been drawing more attention.
Timefolio Asset Management launched a hedge fund in May, but already attracted 396.6 billion won. Of the total, about 90 percent is said to be from 190 individual investors.
Industry watchers say that Timefolio was able to attract large sums in such a short period due to its track record. The company’s investment product introduced in 2003 has never failed to post positive growth, and none of the 99 individuals who invested about 10 billion won in the product withdrew any funds.
By Choi He-suk (cheesuk@heraldcorp.com)
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Articles by Korea Herald
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