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Biz News Korea(Eng)

Kyobo Securities leaps to top rank in hedge fund in just 3 months

Collected: 2017.06.06

Distributed: 2017.06.08

Source: Go Direct

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South Korea’s midsize brokerage house Kyobo Securities Co. has zoomed to the peak in the country’s hedge fund market, having drawn more than 1 trillion won ($894 million) into its hedge funds in just three months in the market.

According to the investment banking (IB) industry Sunday, Kyobo Securities’ hedge funds available since late February has attracted about 1.56 trillion won from investors so far, the largest assets under management by local players. The balance is also five times larger than 307 billion won managed by previous market leader NH Investment & Securities.

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Kyobo Securities started with 253 billion won when it first launched hedge funds in February. The asset under management ballooned to 796.9 billion won in March, 1.14 trillion won in April and 1.56 trillion won in May.

Kyobo Securities has focused on coming up with funds that are tailored to different demands from investors using its bond managing prowess, said Kim Chang-hyun, Private Fund Manager (Hedge Fund) at the firm.

Some sources cited young workforce at the company’s hedge fund team with an average age of 32, about 10 years younger than other firms’, as the strength of the new kid on the block. The company was able to make bold moves under the young managers.

By Yoon Jin-ho

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