Woori Asset’s U.S. Short-Term Bond IPO Fund Tops 400 Billion Won in Net Assets

Woori Asset Management said on May 14 that net assets of the Woori U.S. Short-Term Bond IPO Securities Investment Trust, a bond-mixed fund, surpassed 400 billion won. The fund had crossed 300 billion won last month, meaning another 100 billion won flowed in within about a month. The product seeks stable carry income mainly from U.S. short-term bonds while pursuing additional returns through participation in global initial public offerings. The company said it works with global asset manager Neuberger Berman to strengthen overseas IPO deal-sourcing capabilities and selectively invests in quality names whose valuations look attractive versus offering prices. Expectations for major global IPOs and strength in domestic and overseas stock markets were also cited as favorable factors for IPO funds. Source: hankyung.com