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December 2013 - January 2014 Vol.18/19 No.12/1

Mall street

Category: Asia, Korea
By Hank Morris

Korea to set up fund supermarket system

The Korean distribution system for retail funds has always required the use of a distribution company. Traditionally this has been either a major bank or a securities company. Foreign banks and brokers have been eligible to distribute funds, but the large Korean banks, and secondarily the largest Korean securities firms have done the bulk of the business. The Korean authorities have not permitted asset management companies to distribute their funds directly. Rather they require fund managers to sign up at least one distributor to sell their funds to retail investors

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