Optimus discontinued buyback, maximum payback rate of only 15%

Only 68% of Optimus investment 5146 billion can be due diligence
Financial supervision service “The expected recovery rate is only 7.8 ~ 15.2%”

[인더뉴스] Reporter Eun-sil Yoo ㅣ The expected recovery rate of Optimus Fund has been announced, which is increasing controversy due to the cessation of redemption and fraud. The estimated maximum expected recovery rate is only 15.2% of the total fund size.

As a result of the due diligence of the Samil Accounting Firm on the Optimus fund for four months through the ‘Due diligence results of the Optimus Asset Management Fund’ on the 11th, the Financial Supervision Service reported that the expected recovery rate Depending on the fund balance, taking into account the expected recovery value for each individual asset, it is 7.8% to a maximum of 15.2%. Announced the level.

The targets for due diligence were 63 final investment destinations with identifiable cash flows, and KRW 351.5 billion were identified. This means that only 68% of the total fund size of 5146 billion won is only available for due diligence, not recoverable.

The Financial Oversight Service explained: “The remaining amount cannot be due diligence due to embezzlement or return, and the cash, deposits and funds transferred to the city warriors were excluded from due diligence.” Samil Accounting Firm predicted that both the KRW 8.1 billion invested in cash and deposits and the investment assets of the transfer fund of KRW 5.9 billion will be recoverable.

Fund funds were mixed with external funds in the process of going through the primary and secondary conduit and were invested in the final destination of the investment or were used to block the return of existing funds. Conduit means a legal entity established to invest in mortgage products.

Most of the 3.515 billion won in due diligence, or 2.927 billion won, were classified as funds whose recovery is questionable. Some of the recoverable funds are estimated at 54.3 billion won and the total recoverable funds at 4.5 billion won.

Regarding the Optimus Fund, the fund’s right to the underlying assets is unclear, making it difficult to immediately implement an adjustment to the fund’s base price that reflects the results of due diligence. The Financial Supervision Service plans to form an advisory body to guarantee equity in price adjustments.

An official from the Financial Supervision Service said: “We will actively cooperate with the prosecution’s investigation so that asset recovery can be maximized even in areas where the use of funds is not identified as a result of due diligence.