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Korea grants collective investment business licence to Cosmo


Hahn Sull
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 licence to the firm’s 70.1%-owned Seoul-based subsidiary Cosmo Asset Management.

The licence, 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 parent Sparx Group through private placements.

Cosmo, which focuses on