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World Cup Fund to be Introduced

Posted June. 08, 2001 20:20,   


The funds to mainly invest to the World Cup official sponsors will be introduced.

The so-called `World Cup Fund`, is a commodity that invests its more than 30 percent of trust fund to the World Cup official sponsors. The Housing & Commercial Bank (HCB) aims at selling the world cup fund over 500 billion won.

The rests are the stock-bond combined commodities to be invested mainly to the bonds and the debentures. The sponsors include Adidas, Coca Cola, Gillette, Macdonald, Korea Communication Co., Hyundai Motor Co., and etc..

The HCB announced that H & C Investment Trust Management Co.(HCITM), to which the internationally renowned ING life invested, will take charge its fund management. And the Stuart Barry, the vice president of HCITM will direct the stock management.

The HCB also plans to distribute 500 tickets of the World Cup to 250 customers who invest more than 10 million won selected through the ballot. Anyone can buy the fund and the investors should purchase at least 1 million won.

Lee Heon-Jin mungchii@donga.com