HONG KONG, Nov 28 (Reuters) - South Korea's biggest mutual
fund firm, Mirae Asset, plans to launch a listed fund worth about
$500 million, aimed at local retail investors looking for an
extra kick from high-yield overseas property, a senior executive
said on Wednesday.
With Seoul office yields dropping to 4-5 percent from as high
as 10 percent seven years ago, South Korean investors are eager
for higher returns from foreign property, said Chang-Hoon Choi,
head of global acquisitions at Mirae Asset's property investment
arm.
The new fund, to be launched in January, will look to invest
around 30 percent of its equity in developing markets, with
China, Vietnam and India the main targets.
(Reporting by Dominic Whiting, editing by Jeffrey Hodgson)
(([email protected]; 852 2843 6314; Reuters Messaging:
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Keywords: MIRAE FUND/