Woori Absolute Partners hedge funds in the black
Two new Woori-seeded multistrategy hedge funds make it past the first six months with returns in positive territory.
In late summer 2008, Woori Investment & Securities based in Seoul, Korea seeded two new multistrategy hedge funds managed by the investment management firm Woori Absolute Partners which is based in Singapore. It was the first time that an offshore hedge fund has been backed by a Korean financial institution.
During their first months of life, returns from both Cayman Islands-domiciled funds fluctuated between slightly positive and slightly negative with both funds ending 2008 wit…
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