Updated: Korea Investment to debut synthetic ETF

Fund manager Korea Investment Management (KIM) is preparing to launch the first synthetic exchange-traded fund in Korea in collaboration with Deutsche Bank arm db X-trackers. Market sources say the fund could launch by the end of this month. KIM officials confirmed plans to introduce an ETF based on a swap with a local counterparty. Later this year it intends to launch an "ETF of ETFs" based on international products managed by db X-tracker, a unit of Deutsche Bank. Officials there de…