Singapore Hedge Fund

Alternative asset management in Singapore

Korean Firms Found Hedge Fund Platforms in Singapore and Hong Kong

From FINalternatives, news of the build up of hedge fund platforms in Singapore and in Hong Kong.

As the Asian hedge fund industry rises from the ashes of last year’s huge losses and huge redemptions, a number of Korean financial services firms are hoping to play middleman in the resurgent space.

Kookmin Bank, Industrial Bank of Korea, Samsung Securities and Woori Investment & Securities have earmarked more than US$1 billion to build up hedge fund platforms for institutional investors, Asian Investor reports. Woori and Samsung have set up their platforms in Singapore, while Kookmin has opted for Asia’s hedge fund capital, Hong Kong.

Hwang Sung-ho, CEO of Woori I&S, said the firm’s platform is small, but that it is investing substantial resources into building it up. The firm hopes it will be the centerpiece of a multi-asset strategy group.

Woori is also creating a hedge fund index, AI reports.

FINalternatives

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Alternative investment management firm K-Atlas, based in Singapore, achieves spectacular returns in 2008

From JoonangDaily, news of a Singapore based joint venture between Korean and US investment  firms, that achieved very high growth in 2008.

Though many were toppled in the United States during the ongoing economic crisis, becoming an investment bank is still the holy grail for many financial institutions in Korea.

Korea Investment Holdings is one of those companies, and its management believes that despite uncertainty over the timing, the economy will get back to normal, and it will just be a matter of time before this dream becomes a reality.  And it may have a shot. Unlike other banking-focused financial groups in Korea, KIH is a holding company with emphasis on its brokerage and asset management businesses, key areas with high growth potential in investment banking.

In February 2008, Korea Investment Holdings and Atlas Capital Management established K-Atlas Advisors, a Singapore-based manager of alternative investment funds, and the launch of K-Atlas Fund, a Singapore-domiciled alternative investment fund targeting hedge fund and private equity investments.

K-Atlas posted more than 70-percent cumulative return rates for 2008, despite the global economic meltdown.

JoonangDaily

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Tribridge To Launch New pan-Asia Hedge Fund

Tribridge Investment Partners Ltd., a Hong Kong-based hedge fund manager, said Monday it will launch a new fund in August and hired John Liptak, former head of Bank of America Corp’s Asia special situations group, to run it.

The new fund will have a pan-Asia focus and seek to identify mispriced or undervalued securities due to financial stress, some corporate event or other special situation. It will be biased toward large-cap companies in more developed markets in the region such as Hong Kong, Australia, Korea, Singapore, or Japan.

“I believe that the opportunities from the upcoming default cycle have not been seen since shortly after the Asian currency crisis back in 1997-1998,” Liptak said in prepared remarks.
Citigroup. is the fund’s prime broker and Bank of New York Mellon Corp. is the administrator. Tribridge, founded in 2003, has US$259 million in assets under management in four different funds including a Korea multi-asset fund and three credit funds.

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