Uri Asset Management's 'US Public Offering Stock Fund' Surpasses 100 Billion KRW in Assets Under Management in 3 Months

Woori Asset Management announced on the 5th that the assets under management of the 'Woori Really Easy US IPO Fund,' the first fund in Korea to invest in the US initial public offering (IPO) market, have surpassed 100 billion KRW.

As of the 5th, the US IPO fund recorded assets under management of 101.3 billion KRW, exceeding 100 billion KRW for the first time. Launched in August, the US IPO fund is a product jointly managed by Woori Asset Management and the US asset management firm Neuberger Berman. It primarily invests in US IPOs and US bonds. A notable advantage is that Neuberger Berman, which manages approximately 640 trillion KRW in assets, directly participates in IPO subscriptions, making it favorable for IPO allocations.

Additionally, the fund is designed to invest in global IPOs, including those in Korea outside the US. A representative case is its participation in the Tokyo Metro subscription in Japan on the 23rd of last month, achieving a return of over 44%.

Seo Woo-seok, Head of Pension Solutions and Global Operations at Woori Asset Management, explained, “As uncertainty decreases after the US presidential election, IPO activities of large companies are expected to become more active. We are pursuing both profitability and stability through active participation in global IPOs and investment in US bonds.”

This fund is currently available for subscription through Woori Bank, Woori Investment & Securities, KB Kookmin Bank, Hana Bank, Gwangju Bank, Samsung Securities, Korea Investment & Securities, Yuanta Securities, NH Investment & Securities, Kyobo Securities, Hyundai Motor Securities, Kiwoom Securities, and Meritz Securities.