Woori, Temasek set to launch $30 mln fund of funds
SEOUL |
SEOUL Feb 5 (Reuters) - South Korea's Woori Investment & Securities Co Ltd (005940.KS) is set to launch a $30 million fund of funds in Singapore with Temasek's Fullerton Fund Management, the brokerage company said on Friday.
"We will sign a final contract with Temasek [TEM.UL] to set up the fund jointly," an Woori official told Reuters.
The plan comes as it has shut down a $60 million offshore hedge fund, and part of the money will be deployed to the new fund of funds, the official added.
A Woori spokesman confirmed the plan.
(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)
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