Samsung Investment Trust Management Company, Korea's largest domestic fund management company with W22 trillion $18.7 billion of assets, is preparing to launch an Asian strategies fund of hedge funds in January. Although initially targeting domestic investors, once the fund establishes a track record, the firm is eager to leverage its brand name to attract international investors as well, says Um Tae-jong, CIO and COO for global investments and financial products.
We are creating a product line in alternative investments, he says. In December 2002, the firm introduced its first global fund of hedge funds, the Samsung Absolute Return Fund, which now has $120 million under management. This year it has also launched fund...
