AllianceBernstein, Franklin Templeton debut master-feeders in Korea
These and other fund management companies have introduced the first master-feeder structures to South Korea, but whether this is a success is questionable.
In the past few weeks, four global fund management companies have launched the first master-feeder structures in South Korea.
In all four cases, the local fund structure feeds investor assets to single Sicav funds domiciled in Europe. And, in all four cases, the Sicav underlying strategy is high-yield bonds.
On the one hand, this is a success. Master-feeder structures were allowed under the new Capital Markets Consolidation Act (CMCA) that Korea ushered in this past February. But fo…
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