Vanguard forges Korea presence

It will distribute global index funds via local index player Yurie Asset Management.

Vanguard Group, America's number-two sized mutual fund company with $560 billion in assets, has made a foray into the Korean institutional marketplace by signing a memorandum of understanding with local Yurie Asset Management to distribute Vanguard's range of global index funds.

The tie-up will target high-net worth individuals as well as institutions.

The $700 billion Korean institutional market is pretty substantial, and is starting to move toward offshore investment but rather gingerly, says Jon Robinson, Vanguard...

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