Seoul-based Cosmo Asset Management (AM) plans to roll out a mutual fund targeting domestic retail investors, Asian Investor reports. South Korea’s biggest investment manager with $3.2 billion in assets under management also intends to offer products from parent company Sparx.
Korea’s Financial Services Commission (FSC) issued a collective investment business licence to Cosmo on November 16. The licence permits the firm, hitherto restricted to investment advisory activities, to run equity, fixed-income and money-market funds.
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