Sparx, Cosmo and PMA to unite for pan-Asia hedge fund

Cosmo Investment Management and PMA Capital Management are the respective Korean and Hong Kong alternative investment units of Tokyo-based Sparx. Together they plan to launch a new pan-Asian hedge fund product in 2011 which leverages all the skills of the group. The strategy of the new product is not yet decided, but the target size of the fund will be $300 million. Depending on the level of external demand, Sparx may seed it themselves. Sparx acquired the Cosmo business in 2005 and s…