KOFIA Publishes Revised Edition of Private Equity Fund Operations Manual

[Asia Economy Reporter Oh Ju-yeon] The Korea Financial Investment Association announced on the 23rd that, as part of efforts to prevent recurrence related to private fund incidents announced in the third quarter, it has published revised editions of Private Fund Operation Manual I (Collective Investment Agreement Edition) and Operation Manual II (Investment Proposal Edition) to strengthen the capabilities of the fund industry.

The revised private fund operation manuals were published separately as the Collective Investment Agreement Edition and the Investment Proposal Edition to enhance the understanding of professional investor-type private fund operation personnel, and are composed mainly of case studies to provide practical assistance when personnel draft agreements or proposals.

Additionally, the revised manuals reflect the latest amendments to laws and regulations, and include progress on institutional improvements following the financial authorities' announcements of the "Comprehensive Improvement Plan to Strengthen Protection for Investors in High-Risk Financial Products" and the "Private Fund Status Evaluation and Institutional Improvement Plan."

The association will provide the operation manuals to asset management company members to support the strengthening of industry capabilities, and plans to publish revised editions of Private Fund Operation Manual III (Compliance Edition) and Operation Manual IV (Operation Support Edition) in 2021.

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