Investors get access to Korean small caps

A groundbreaking new CBO fund targets foreign investors seeking exposure to Korean SMEs.

The Korean government - along with Tong Yang Investment Bank, TD Securities, the Korean Development Bank KDB and Hong Kong-based ADM Capital - have unveiled a new fund offering international investors a slice of the Korean small and medium sized business sector. The fund - called the Koromas Fund - is being sponsored by the Small and Medium Business Administration SMBA, a department of the Korean Ministry of Industry and Energy.

The Koromas Fund aims to raise $300 million through the issue of three classes of notes. The senior A class note and participating C class notes will be sold to international investors together. The A notes will get a credit wrap from KDB...

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