South Korea’s largest hedge fund freezes $710 million as investors try to pull funds
|10/14/2019||Posted by BusinessMediaguide.Com under General World News||
- Lime Asset Management — South Korea’s largest hedge fund — has frozen a total of $710 million in withdrawals as investors rush to pull their cash from the firm, Bloomberg reported.
- The firm, which oversees about $4.1 billion, said it’s struggling to sell assets fast enough to pay out investors, the report found.
- The investor redemptions began after the firm confirmed last that it was under investigation by Korean financial authorities over investments in convertible bonds.
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