Woori Asset Management's "US IPO Fund" Thrives as Global IPO Market Recovers

Woori Asset Management announced on the 21st that its "US IPO Fund" has recorded a 16.54% return for the unhedged (UH) share class since inception, as the global initial public offering (IPO) market is recovering.

According to FnGuide, as of the 20th, the cumulative return since inception for the Woori Really Easy US IPO Securities Investment Trust was 8.76% for the hedged (H) share class and 16.54% for the unhedged (UH) share class. This fund, launched in August last year, is the first product in Korea to invest in US IPOs. It surpassed 100 billion won in assets under management within just three months of its launch.

As the global IPO market regains momentum, interest in IPO investments is growing. According to S&P Global, there were 102 IPOs in the United States alone in the first half of this year, marking the second-highest number of listings for the same period in history.

Woori Asset Management's "US IPO Fund" has actively participated in major IPOs over the past year, including high-profile companies such as Circle and Figma. The fund is managed in collaboration with Neuberger Berman, a US asset management firm. It primarily invests in US IPOs and US bonds, and benefits from Neuberger Berman's direct participation in IPO subscriptions, which gives it an advantage in IPO allocations.

The fund is also designed to allow investments in global IPOs, including those in Korea and other countries. Notable examples include participation in CATL's Hong Kong IPO and Tokyo Metro's IPO in Japan.

Suh Wooseok, Executive Director of Global Investments at Woori Asset Management, explained, "The US IPO Fund not only seeks stable returns by investing in IPOs and short-term bonds, but also offers the benefit of investing in dollar-denominated assets through the 'UH' or 'USD' share classes."