Singapore-based Woori Absolute Partners, an alternative investment company sponsored by one of South Korea’s largest securities firms – Woori Investment & Securities Co., Ltd
Singapore-based Woori Absolute Partners, an alternative investment company sponsored by one of South Korea’s largest securities firms – Woori Investment & Securities Co., Ltd. – has this week announced the appointment of Edward S. Moon as its new CIO. Moon, who prior to co-founding WAP worked at Citigroup/Salomon Smith Barney, will continue as the firm’s head of FoHF and lead portfolio manager. Last year the decision was made to unwind its two single strategy funds (Woori Absolute Asia Multi-Strategy Fund and Global Opportunity Fund) following a full and thorough risk review, Moon told Hedgeweek via phone interview. “My primary short term focus will be to continue the active deployment of our Fund of Hedge Fund’s investment capital until we are fully invested,” said Moon, who went on to say that, whilst a number of exciting investment opportunities exist both in Asia and abroad, the firm will be mindful of keeping track of its existing investments. At a time when capital inflows are hard to secure, with more demands being put on fund managers from investors, Moon told Hedgeweek that due diligence and risk management would be key areas of focus: “There are a myriad of investment strategies/styles and this can be a bit overwhelming. This is why the due diligence and hedge fund vetting process is such a critical component of what we offer to our clients. With regards to risk management, market events of recent years have had a profound impact on how investors are prioritizing their investment criteria.” Indeed it’s no longer enough to look at a fund’s performance; liquidity, volatility and correlation are also key factors. Moon is certainly confident that Korean institutional investors’ appetite for alternatives is strong and anticipates that onshore supply/demand will increase dramatically over the coming years. “As the market expands, we would expect capital, talent and further business opportunities to naturally follow lock step,” said Moon.