Edward Sungshik Moon of Woori Absolute Partners has been appointed the firm's chief investment officer by parent company Woori Investment & Securities. He had been serving as its head of fund of funds and lead portfolio manager of a recently launched fund of hedge funds vehicle

Moon co-founded Woori Absolute Partners in 2008 along with former CIO James Kim, who departed last year. The firm initially launched with two single-fund strategies, an Asian multi-strategy fund and a macro fund.

Those two single-fund strategies have since been wound down and the firm is focused on the fund of funds business – a development which first began when they launched a Fullerton advised fund of hedge funds four months ago.

Moon tells AsianInvestor that the firm continues to work closely with Fullerton Fund Management as it begins building its track record, initially onshore in Korea, and subsequently beyond.

The firm is also considering, and is open to, opportunities for separate and direct investment of capital into a select number of hedge funds which Moon would take responsibility for overseeing and managing in his expanded role.

“There has been some uncertainty and confusion regarding our business lines and focus and we are aiming to provide and communicate clarity by way of the appointment to CIO,” says Moon.

“One of the reasons that the CIO role had been left vacant was the possibility that we would continue pursuing the active management of single fund strategies, but that is no longer the case, a fact underscored by this appointment.”

Moon is a former head of Korean equity capital markets at Citigroup/Salomon Smith Barney and previously worked at Credit Suisse First Boston.