Hedge Funds See Further Gain in Hot Korean Stock After 250% Jump
- Samyang rose three-fold last year, while Kospi gauge fell
- There will be a second stage of growth: VIP Research
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A 250% jump in a South Korean spicy instant noodle maker’s stock helped some hedge funds ride out Asia’s worst performing market last year. And they are betting that the stock will extend its gains in 2025.
Seoul-based Gudo Investment Management’s flagship fund, which manages 57.2 billion won ($40 million), posted returns of 175% last year, largely thanks to Samyang Foods Co. even as the benchmark Kospi Index fell 10%. Bigger hedge funds like Must Asset Management and VIP Research & Management Inc. also attributed the outperformance of their flagship funds in 2024 to the stock.