NH Investment & Securities Delays Decision on Optimus Compensation... "Will Discuss Again Soon"

Victims of the Optimus Fund NH Investment & Securities held a protest rally on the 20th in front of the National Agricultural Cooperative Federation in Jung-gu, Seoul, demanding compensation for damages caused by the Optimus Fund. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Kum Boryeong] NH Investment & Securities, the largest distributor of Optimus Asset Management's private equity funds, has postponed its decision on the compensation agenda.

NH Investment & Securities announced that at the board meeting held on the 23rd, the decision on the 'advance support agenda for emergency liquidity supply' for investors in the Optimus private equity fund was deferred.

NH Investment & Securities explained, "This was deferred because the board judged that it requires more thorough review from a long-term management perspective," adding, "An extraordinary board meeting will be held soon to discuss it again."

The Financial Supervisory Service (FSS) has been conducting an on-site investigation of NH Investment & Securities since the 6th. They are verifying the product screening procedures related to the Optimus fund, whether there was any persistent solicitation, and the explanations given to customers.

According to the FSS, as of the 21st, the sales scale of 46 funds managed by Optimus Asset Management amounted to 515.1 billion KRW. Among these, 24 funds worth 240.1 billion KRW have had their redemptions postponed. The remaining 22 funds are composed of assets identical or similar to those of the redemption-postponed funds, making redemption postponement inevitable at maturity.

Of the total sales amount of Optimus Asset Management funds, approximately 84%, or 432.7 billion KRW, were sold through NH Investment & Securities. The number of individual investor accounts was counted at 884. Following this were Hi Investment & Securities with 32.5 billion KRW, Korea Investment & Securities with 28.7 billion KRW, Cape Investment & Securities with 14.8 billion KRW, Daishin Securities with 4.5 billion KRW, and Hanwha Investment & Securities with 1.9 billion KRW.

The second highest number of individual investor accounts after NH Investment & Securities was Korea Investment & Securities with 93 accounts. Korea Investment & Securities had earlier this month decided on a 70% advance compensation for affected investors.

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