'Public Institution Bond Investment' Private Equity Fund Suspends Redemptions Ahead of Maturity

Optimus Asset Management Sends Official Letter to NH Investment & Securities Requesting Maturity Extension Due to 'Legal Reasons'

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[Asia Economy Reporter Geum Bo-ryeong] A private equity fund, known for its stability by investing in public institution accounts receivable, has been found to have suspended redemptions.

According to the financial investment industry on the 18th, Optimus Asset Management sent an official letter to NH Investment & Securities, the distributor, on the 17th, one day before the maturity of Optimus Creator No. 25 and No. 26 funds, requesting an extension of the maturity due to "legal reasons."

This fund, which had a maturity of six months, had over 95% of its assets composed of accounts receivable from construction companies or IT firms that won contracts for public institution projects. Thanks to its high stability, it was very popular among investors. It is known that some people could not invest despite wanting to due to high competition.

NH Investment & Securities sold a total of 21.7 billion KRW of the Optimus Creator No. 25 and No. 26 funds. In a notice sent to fund customers on the same day, NH Investment & Securities explained, "During the process of confirming the asset status and normal repayment of the fund, which was scheduled to mature on the 18th, we received a response from the asset manager that repayment might be deferred," and added, "During this inspection, we secured a statement that there was falsification in the materials previously provided by the asset manager."

An NH Investment & Securities official said, "The relevant department is currently investigating the legal reasons," and added, "Customer protection is our top priority, so we will do our best."

Optimus Asset Management has released many funds with structures similar to the No. 25 and No. 26 funds, which have now suspended redemptions. Therefore, there is a high possibility that additional funds will also suspend redemptions. NH Investment & Securities sold Optimus Asset Management funds worth 440.7 billion KRW.

Korea Investment & Securities also sold related funds totaling 82.7 billion KRW. Among these, funds worth 16.7 billion KRW received notifications of redemption deferral, and the balance of funds not yet matured was confirmed to be 12 billion KRW.

The Financial Supervisory Service is scheduled to begin an on-site inspection of Optimus Asset Management on the 19th.

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