(Bloomberg) Truston Asset Management Co., a South Korean investment firm that managed $8.5 billion as of August, is closing its office in Singapore and a hedge fund based in the city. The closures of the office, established in 2007, and the Truston Falcon Asia Fund, set up in 2012, were confirmed by Truston in emails.
The Truston Falcon Asia Fund had bet on rising and falling stocks in South Korea, Japan, Hong Kong and China, reporting a 6 percent decline in the year through July 2017.
