Korean asset owners eye Africa potential
Faced with low yields at home and a need for diversification, Korean institutions are taking a fund of funds approach in Africa and are making plans for direct investment.
Korean asset owners are making fledgling investments into frontier markets such as Africa driven by low growth prospects at home and an urgent need for diversification, a forum heard.
Jeung Jae-Ho, chief investment officer at the $35 billion Korean Federation of Community Credit Cooperatives (KFCC), says his organisation is aiming to raise overseas investment from 5-10% by next year.
While it does not invest in Africa at present, he says KFCC is studying this. Initially, it is l…
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