$30mm FOF launched in Asia

Feb 5, 2010 by

South Korea’s Woori Investment & Securities Co Ltd has released a statement which says it is set to launch a $30 million fund-of-hedge-funds with Temasek’s Fullerton Fund Management, as part of a restructuring of its hedge funds business. Restructuring, after some reading, means closing down a $60m hedge fund and redeploying half of that money into a Fund of Funds product, which will be managed by Woori but investment advisory will be provided by Fullerton.

If you’re in the Asian (inc. Japan) equities long/short business, there’s probably $1mm to $2mm for you from this new FOF so go ahead, send your pitch books now!

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