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Correction to the report titled ‘Gen2 Partners fund freeze headache for Korean brokerages, banks’By Korea Herald
Published : Nov. 30, 2020 - 15:00
However, we misidentified the reasons for suspension of Gen2 funds’ redemption. It is not true that KS Korea Credit Fund and CM Credit Fund could not redeem the investment sold by them because of the structure of KS Asia Absolute Return Fund. In fact, the funds managed by Gen2 Partners have been managed independently and each fund has never been used as collateral for each other. And Gen2 Partners informed us that they have decided to suspend the redemption by funds to avoid possible greater losses to the remaining investors after the redemption due to the plunging price of bonds in the worldwide after the COVID-19 event.
The foregoing report is corrected by this report.
Articles by Korea Herald
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