FRM Opening Hong Kong and Seoul Offices in Significant Expansion of Its Asian
Fund of Hedge Funds Business
HONG KONG and LONDON, May 21 /PRNewswire/ -- Financial Risk Management
('FRM'), a global fund of hedge funds group with offices in Europe, Asia and
North America, today announced plans to significantly expand its Asian
operations through new offices in Hong Kong and Seoul, South Korea. FRM
manages $15 billion in assets for institutions and other sophisticated
investors, including approximately 300 pension funds worldwide.
FRM first established a presence in Asia in 2000 with the opening of its
Tokyo office, which now contains over 20 client service and investment
professionals. It opened its office in Sydney in 2001.
FRM's Hong Kong office will open in June 2008 and will be comprised of
both investment and client service staff. The Hong Kong office will strengthen
FRM's research coverage of Asian hedge funds and provide enhanced client
service for FRM's growing base of investors in the region.
FRM's Seoul office is planned to open in late 2008 to begin work on the
process of obtaining licensing from the Korean regulatory authorities in 2009.
FRM's Seoul office will also provide client service to FRM's increasing number
of Korean institutional clients which are currently served through FRM's Tokyo
office.
Blaine Tomlinson, Founder and Group Chairman of FRM, stated:
"The hedge fund industry is now global, and as a fund of hedge funds group
we believe it is essential to maintain a research presence in all regions
where compelling hedge fund investment opportunities exist. The Asian hedge
fund industry is undergoing rapid growth in both size and quality, as
structural changes in Asian markets are creating a rich opportunity set for
investors.
"Our new Hong Kong office will complement our long-established hedge fund
research presence in London, New York and Tokyo, and significantly strengthen
our coverage of Asia. We anticipate increasing our allocations to Asian hedge
funds, and our newly launched hedge fund seeding business, FRM Capital
Advisors, is also seeking to invest in new managers in the region."
Paul Dunning, CEO of Financial Risk Management Limited, stated:
"During the past decade, FRM has provided education and investment
opportunities to hundreds of institutions looking to benefit from the absolute
returns that hedge funds can provide. We are in the early stages of a global
trend towards increased institutional investment in hedge funds, and we are
making a significant investment in resources to serve more Asian institutions
and major distribution partners as they increase their hedge fund
allocations."
Financial Risk Management (FRM):
FRM is a global fund of hedge funds group managing $15 billion worldwide.
FRM was founded in 1991 and currently has over 200 employees in London, New
York, Tokyo, Hong Kong, Guernsey and Sydney. More information about FRM can be
found at http://www.frmhedge.com.
SOURCE Financial Risk Management
Richard Barton, barton@gavinanderson.com.hk, or Jessie Hsieh,
jhsieh@gavinanderson.com.hk, both of Gavin Anderson & Company, 852 2523 7189;
or Roland Cross or Sally Moore, both of Broadgate, 44 207 726 6111; or Robin
Duxfield, COO of FRM Hong Kong, 852 6010 6988, robin.duxfield@frmhedge.com
