Korean investment firm attracts US$100m from Norway

[THE INVESTOR] South Korea’s VIP Research & Investment has garnered an additional US$100 million from Government Pension Fund Global of Norway, according to the investment industry on Aug. 16.

The Norwegian sovereign wealth fund, one of the largest in the world with estimated assets of 860 trillion won (US$787 billion), chose the firm to manage US$300 million last year.

Established in 2003 by co-founders JC Choi and Peter Kim, who met in a Seoul National University stock investment club in 2001, VIP Investment has maintained its original belief in value investment regardless of market fluctuation, which industry sources say won over the oil fund.

VIP Research & Investment has concentrated on small and medium cap value stocks and showed strong performances in 2012 and 2014 during a bull market run for value stocks. It managed to defend the minimum rate of return last year when growth stocks, such as bio cosmetics, were bullish.

By Hwang You-mee (glamazon@heraldcorp.com)