Fund launches & closures

Woori Absolute Partners opens fund of funds

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Woori Absolute Partners, a subsidiary of Woori Investment & Securities in Korea, has launched a fund of hedge funds. The Woori Absolute Return Investment Strategies Fund, which launched with seed capital of $30 million, is a global fund of funds with an Asian focus.  

Edward Sungshik Moon, head of fund of funds at Woori Absolute Partners, will manage the fund, although Fullerton Fund Management, a long-only fund house owned by Temasek, the Singapore sovereign wealth fund, is the investment adviser.