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Biz News Korea(Eng)
Assets under Korean hedge funds top $3.44 billion
- Collected
- 2016.03.24
- Distributed
- 2016.03.25
- Source
- Go Direct
According to the local hedge fund industry on Wednesday, Korean hedge funds added more than 1 trillion won to their assets in just 10 months, topping 4 trillion won as of Mar. 18.
They added 637.2 billion won this year alone, showing accelerated inflows of capital from the past. The leverage is limited to 400 percent to equity capital.
The asset growth was fueled by a massive conversion of investment advisory firms into hedge fund operators as local financial authorities eased the criteria for the minimum equity capital for a hedge fund to 2 billion won.
In the past, the minimum equity capital was 6 billion won, with entrusted asset under management at 250 billion won or more.
In the past three months, 26 private equity funds were newly registered, of which 11 are managing hedge funds. More than half of the asset growth this year came from new hedge funds.
By Choi Jae-won
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]