Forsyth builds Korean presence

UK-based fund of hedge funds hires David Kim to spearhead marketing efforts.

Forsyth Partners, a London-based asset manager with $1 billion under management in hedge fund assets, has hired David Kim as vice president of institutional sales in Korea. Kim joins from Beacon Hill Alternative Investments in Seoul where he was managing director of marketing and sales. He previously worked with Deutsche Investment Trust Management and Landmark Investment Trust in Seoul.

Kim will report to Guy Medcraft, Forsyth's regional director in Hong Kong.

Medcraft says, "The Korean market is particularly attractive to us as the country is already familiar with a regulated fund of funds investment approach. David's local knowledge and experience means we can move our business to a new level."

Forsyth's business in Asia has quadrupled in 2004 and funds sourced from the region now make up a quarter of the firm's hedge fund assets. "We've experienced a rapid growth in our fund of hedge funds business since we launched in 2002," he comments. "Having hit the $1 billion mark, we've now reached the scale where larger institutions in Asia have been able to invest. Moreover the capacity agreements we have in place have enabled us to offer investors a greater level of transparency on our top-10 holdings."

He says that Forsyth has so far seen most interest from Asian institutions and regulated IFAs in Hong Kong, Taiwan and Singapore.

Medcraft says that the firm will continue to look at ways to add greater depth and experience to its sales and business development operations in Asia.

"Currently, we're looking closely at establishing a presence in Taiwan, but are seeking legal counsel as there is some uncertainty over what can and cannot be sold there on an offshore funds basis," he says