Samsung plans Asia hedge fund of funds

Samsung Investment Trust Management Company, Korea's largest domestic fund management company with W22 trillion ($18.7 billion) of assets, is preparing to launch an Asian strategies fund of hedge funds in January. Although initially targeting domestic investors, once the fund establishes a track record, the firm is eager to leverage its brand name to attract international investors as well, says Um Tae-jong, CIO and COO for global investments and financial products.