AlphaBIZ - U.S. Hedge Fund Invests KRW 350 Billion in Korean Stock Market via Local Asset Manager

Korea Exchange Headquarters (Photo courtesy of Korea Exchange)

 

 

[Alpha Biz= Kim Jisun] Millennium Management, a prominent U.S.-based hedge fund, has committed to investing approximately $250 million (KRW 347.2 billion) in the Korean stock market through a delegated investment agreement.



According to the domestic financial investment industry on August 6, Millennium Management recently signed a deal with Billionfold Asset Management, a Korean asset manager, to entrust it with managing its investments in the Korean equity market. The delegated investment is expected to be implemented within this year.



Founded in 1989, Millennium Management currently manages over $77 billion in assets under management (AUM). It is considered highly unusual for a global hedge fund to allocate such a large sum to the Korean market in a single investment.



Industry observers suggest that Korea's strong capital market performance—supported by pro-market policies under the Lee Jae-myung administration—has significantly increased the market's appeal to foreign investors. The KOSPI index has risen approximately 18.5% between June and August 5 of this year.
 

 

 

 

AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)