Samsung Asset plans global macro fund

Hong Kong

SAMSUNG Asset Management, the South Korean manager that oversees US$1 billion in hedge fund assets, will start a global macro fund in the next quarter as it seeks to diversify outside of its home market.

The fund, yet to be named, will start with US$20 million and seek to profit from broad trends in currency, stock, bond and commodity markets, Yoonho Heo, head of the firm's hedge fund division, said in Seoul.