The Korean fund management company, Primasia Asset Management, has launched an umbrella fund called t...
They have also listed it on the Bermuda Stock Exchange.
It was established as a unit trust registered in the Cayman Islands and achieved a listing in Bermuda on 19 April 2000.
The fund consists of five sub-classes. Class A is a global equity fund, Class B is a Japanese equity fund, Class C is a Korean equity fund, Class D is a Greater China equity fund (China, Taiwan, Hong Kong and Singapore) and Class E is an Asian fixed income fund.
The fund is being offered as a private placement rather than a public offering and is targeted to qualified investors. The minimum investment is $100,000. The annual management fee is 0.7%, with a negotiable 5% front-end load.
Hyung Sung Kim, managing director of Primasia Asset Management, said: "The fund will enable our clients to invest in a diversified portfolio through one investment vehicle, with the added flexibility of being able to switch between sub trusts on a monthly basis should a change in investment strategy be required."
There is no charge for switching between classes.
Primasia Asset Management was established in 1992 and employs a staff of 14. The firm has $1.5bn under management from both retail and institutional clients.
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