HF launches Bogeumjari Fund in partnership with Woori Investment & Securities

On August 23, 2010, Housing & Finance (HF, CEO Joo-jae Lim) announced the release of the Woori Bogeumjari Securities Investment Trust (Bogeumjari Fund), which was developed in partnership with Woori Investment & Securities (CEO Sung-ho Hwang). Offered in relation with HF’s Bogeumjari mortgage loan, the fund will be offered by Woori Investment & Securities and managed by Woori Asset Management.

The fund will be applied the lowest level of commission in the industry. In addition, an annual rate of 0.5% of the management fee will go into a fund, which will be used to assist Bogeumjari fund subscribers pay for the mortgage registration fee when they take out an HF Bogeumjari loan.

“The Bogeumjari Fund is a good, low-risk product as it incorporates and manages a certain percentage of HF-issued mortgage-backed securities (MBS) with AAA credit ratings,” said an HF official. “It is significant in the sense that it offers individual investors the chance to invest in HF’s MBS product.”

The release of the Bogeumjari Fund was announced simultaneously at the Woori Investment & Securities Headquarters and the company’s 14 branch offices in the areas where HF has a presence. The ceremony was attended by Woori Investment & Securities CEO Sung-ho Hwang, Woori Asset Management CEO Moon-hyun Cha, HF CEO Joo-jae Lim, and heads of branch offices (See photo).

<Photo> HF CEO Joo-jae Lim, Woori Investment & Securities CEO Sung-ho Hwang, and Woori Asset Management CEO Moon-hyun Cha (from right) released the Bogeumjari Fund on August 23, 2010 at Woori Investment & Securities Headquarters in Yeouido, Seoul.