'Gold-Related' DLS Repurchase Suspension by Insurance Companies and Others... 61 Billion KRW Scale

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[Asia Economy Reporter Kum Boryeong] It has been confirmed that a private equity fund product related to trade finance sold by Samsung Life Insurance has entered a redemption suspension.

According to the financial investment industry on the 4th, Samsung Life Insurance and NH Investment & Securities recently notified customers that the redemption of the 'Universe Income Builder Fund Linked Derivative-Linked Securities (DLS)' product has been postponed to May 14 next year.

The size of the fund with delayed redemption is a total of 61 billion KRW. Among them, Samsung Life Insurance sold 53 billion KRW, and Shinhan Financial Investment and NH Investment & Securities sold 5 billion KRW and 3 billion KRW respectively.

The product is based on the 'Universal Income Builder (UIB) Fund.' The Hong Kong asset management company, Wealth Management Group (WMG), was in charge of management, and Universe Asia Management (UAM) served as the advisory firm. NH Investment & Securities created the DLS, and it was mainly sold through Samsung Life Insurance's trust channel.

An NH Investment & Securities official explained, "It is planned to be repaid in five installments by May next year," adding, "This has been communicated to the sellers."