Shipping funds grow in Asia with new deal for Korea Line Corp

Korea Marine Fund (Komarf), a mutual fund system with investments in shipping vessels, is to fund the pre-delivery tranche of a ship financing for Korea Line Corp (KLC). KLC has mandated Commerz Eat Asia, DVB, Korea Development Bank, Komarf and Societe Generale for the shipping deal. Komarf was laun...

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Bibliographic Details
Published in:Asset Finance International 2004-11, p.1
Format: Article
Language:English
Subjects:
Financing
Investments
Manycompanies
Mutual funds
Shipping industry
Online Access:Get full text
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Summary:Korea Marine Fund (Komarf), a mutual fund system with investments in shipping vessels, is to fund the pre-delivery tranche of a ship financing for Korea Line Corp (KLC). KLC has mandated Commerz Eat Asia, DVB, Korea Development Bank, Komarf and Societe Generale for the shipping deal. Komarf was launched in February 2004, with the fund aiming to attract investments from individuals, lease vessels to shipping companies, and pay profits to investors in accordance with the Ship Investment Company Act.
ISSN:1367-8086