Vanguard forges Korea presence

Vanguard Group, America's number-two sized mutual fund company with $560 billion in assets, has made a foray into the Korean institutional marketplace by signing a memorandum of understanding with local Yurie Asset Management to distribute Vanguard's range of global index funds. The tie-up will target high-net worth individuals as well as institutions. "The $700 billion Korean institutional market is pretty substantial, and is starting to move toward offshore investment but rather g…