NORTH KOREA – Breaking from his usual authoritative leadership, Supreme leader Kim Jong-un announced this afternoon he has launched a deep value micro-cap fund. The hedge fund is named Nuclear Returns, after his favorite hobby.
Nuclear Returns will be focused on investing in deep value micro-cap securities in the global marketplace. Nuclear Returns specializes on understanding the complex accounting issues companies in the great country of North Korea has and also analyzing the OTC bulletin board.
Kim’s fund will be looking to raise $100 million with plans to place a hard cap at $250 million. If the fund manages to go over $250 million Kim has promised to return capital to it’s investors. Nuclear Returns has a management fee of 2% and incentive fee of 20% with a high water hurdle of 15%.
High profile investors across the globe have jumped at the opportunity to invest in Nuclear Returns in order to get exposure to the North Korean economy. Entities such as BlackRock and Bridgewater each invested $25 million in capital in the first 8 hours of launching Nuclear Returns.
News on Kim Jong-un launching a hedge fund come shortly after Kim appointed himself as independent director of Facebook after taking a controlling interest. Since appointing himself as director, Facebook’s valuation has increased two-fold.