IGIS Asset Management hands securities division to hedge fund chief; Seong-yong Seo bets on “absolute returns” [fn Market Watch]

[Financial News]  IGIS Asset Management has appointed Seong-yong Seo, head of its Hedge Fund Management Team, to lead its Securities Division. The company has entrusted the division—which former head Ji-young Jang led for about four years while broadening its product lineup—to an internal investment manager. It will seek to attract funds from institutions and corporations by emphasizing “multi-strategy absolute returns,” combining equities and alternative investments.
According to IGIS Asset Management on the 28th, Seo will take office as head of the Securities Division on Nov. 1. Seo’s predecessor, Jang, stepped down when the term ended on Sept. 30 and will serve as an adviser starting in November.
The appointment is notable for elevating to division head an investment manager who built the fund lineup. Since joining the company in 2022, the newly appointed Seo has led the Multi-Asset Investment Team (now the Hedge Fund Management Team) and developed products investing in equities, bonds, IPO shares, mezzanine securities and unlisted stocks. The funds’ cumulative size had grown to around 630 billion won by the end of the first half of this year.
After establishing its Securities Division in 2022, IGIS Asset Management expanded its investment scope from bonds and REITs to equities, mezzanine securities and global asset allocation. Under Seo’s leadership, the challenge is expected to be turning the investment platform built so far into a way to win institutional clients.
Seo’s stated direction is “multi-strategy absolute returns.” The company will organize its approach around two pillars—strategies for marketable and non-marketable assets—and expand its marketing staff to step up business with institutional investors, general corporations and family offices. The Bond Investment Team will continue to provide investment solutions using domestic and international fixed-income assets.
Seo previously managed equity funds at Mirae Asset Global Investments Co., Ltd. and handled investments in equities, real assets, private equity funds (PEFs) and venture capital (VC) at the National Pension Service Fund Management Headquarters. At KORAMCO Asset Management, Seo formed a Multi-Asset Management Team and managed funds combining real estate-related assets, including listed REITs.
Seo said, “I will strengthen the competitiveness of the Securities Division through multi-strategy investing that spans marketable assets and private deals,” adding, “By managing volatility while pursuing absolute returns, I will establish the firm as an asset manager trusted by institutional clients.”
A source in the investment banking industry said, “It is difficult for multi-strategy funds to differentiate themselves simply by holding a diverse range of assets,” adding, “How well they control losses when markets are volatile will determine whether institutions reinvest, and Seo, who has strengths in this area, will be one to watch.” 


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