First public hedge fund product readied in Korea

Korea's retail investors will soon have an opportunity to invest in a hedge fund product. Citibank plans to distribute a product managed by Samsung Investment Trust Management Company based on Chicago-based Hedge Fund Research's global index. To date, hedge funds have only been available in Korea on a private placement basis. Last year's Asset Management Business Act allowed onshore fund products to include derivatives against stocks, bonds, commodities and indices. That has paved th…