Raem Asset Management Suspends Redemptions Again... Financial Authorities Consider Additional Inspection

[Asia Economy Reporter Park Jihwan] It has been confirmed that Lime Asset Management, which caused a massive redemption suspension incident worth up to 1.5 trillion won last October, has recently declared redemption suspensions on additional funds.

According to the financial investment industry on the 15th, Lime Asset Management recently sent official letters to banks and securities firms that sold the 'Credit Insurance Trade Finance Fund,' notifying them of the redemption suspension of the fund.

This fund was scheduled to mature in April. It is a product that invested in private funds such as 'Pluto FI D-1,' which Lime officially declared redemption suspension on last year. The sales volume of this product is known to be up to 500 billion won.

Earlier, Lime Asset Management announced in October last year that it would suspend redemptions of sub-funds investing in a total of three parent funds in the first and second rounds. Accordingly, it is expected that the total redemption suspension amount, including the previously suspended amount, will reach 2 trillion won.

Given this situation, financial authorities are also planning additional inspections of Lime Asset Management. The Financial Supervisory Service (FSS) started an inspection of Lime Asset Management in August last year and completed it in early October after allegations of fund yield recycling and convertible bond (CB) illicit trading were raised.

However, after the 1.5 trillion won scale fund redemption suspension incident occurred and the recent issue of incomplete sales was highlighted, the need for additional inspections has emerged.

The FSS is expected to begin inspections as soon as the audit results of Lime Asset Management's funds by Samil Accounting Corporation are released at the end of this month or early next month. Along with this, inspections of major banks that sold Lime Asset Management's private funds are also expected to be conducted concurrently.

This content was produced with the assistance of AI translation services.