Hana Daetoo to Launch First Korea-Focused Fof

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SINGAPORE (HedgeWorld.com) - Korea Times reported that Hana Financial Group subsidiary Hana Daetoo Securities is to launch the HFG Korea Fund, a fund of funds whose portfolio will consist of soundly performing low-volatility single hedge funds investing in Korea. Hana Daetoo, formerly known as Daehan Investment & Securities Co., has set up a Singapore-based hedge fund management arm, HFG Investments, to manage the fund. HFG is a joint venture with OPVS Investment Holdings of Singapore.

A spokesperson at Hana Daetoo was quoted as saying that the new fund would be domiciled in Singapore because Korean legislation does not yet provide a good environment for hedge funds. Singapore, on the other hand, has been aggressively promoting the industry, with low setup costs and a friendly regulatory environment. To date around 100 funds have set up in Singapore, with some $17 billion under management.

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Hana Daetoo to Launch First Korea-Focused Fof

But things may soon change. Ongoing discussions within the Korean government ...

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