Jan
21
Samsung Asset Starts Quant Hedge Fund led by BlackRock Alumnus
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Asia-focused fund is led by Hong Kong-based Chang Hwan Sung
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It is Samsung Asset’s first Cayman-domiciled hedge fund
A former BlackRock Inc. director is starting a hedge fund at Samsung Asset Management that uses computer models to bet on rising and falling Asian stocks, tapping growing demand from South Korean institutions to diversify investments.
The offering is the first Cayman Islands-domiciled hedge fund from Samsung Asset and will initially target Korean institutions for capital raising, its Hong Kong-based lead manager Chang Hwan Sung said in an interview. It began trading early this month with about $20 million of backing from Samsung Asset and another Korean institution, said Sung, who joined the money manager in June 2014 from BlackRock, the world’s biggest money manager…
Samsung Asset Starts Quant Hedge Fund led by BlackRock Alumnus
