Korea has paved the way for the Sparx Group to introduce its
hedge fund products to high-net-worth individuals and
institutions in the country after granting a collective
investment business license to the firm's 70.1%-owned
Seoul-based subsidiary Cosmo Asset Management.
The license, which was granted on 16 November by Korea's
Financial Services Commission, will also enable Cosmo to manage
mutual funds as well as private placement funds for Korea's
domestic retail market and also allow the group to introduce
hedge fund products from its...