Korea Investment Holdings subsidiary Korea Investment & Securities Co. analyzed data on customers who applied to subscribe to the country's first integrated managed account (IMA), for which subscriptions closed on the 23rd, and said on the 30th that 20,239 individual customers participated in this subscription and the amount raised from individual investors came to 863.8 billion won.
Korea Investment & Securities Co. said it confirmed broader participation centered on non-face-to-face channels, an inflow of new customers, and an even distribution across a wide range of investment amounts.
According to Korea Investment & Securities Co., this subscription drew participation from 20,239 individual customers, and of the total 1.059 trillion won raised, the amount from individual investors was tallied at 863.8 billion won. The average investment per individual investor was about 43 million won.
By sign-up channel, online (non-face-to-face such as smartphones) customers accounted for 87.7%, the vast majority. However, on an amount basis, online made up 40.6%, indicating that relatively larger investments were made through offline transactions such as visiting branches.
New customers and capital inflows were also confirmed. The number of new customers who opened an account on or after the 15th, the day before the subscription period, was tallied at 1,830, and 10,133 customers invested more than 90% of the funds that flowed into their Korea Investment & Securities Co. accounts on or after the 15th into the IMA.
By investor age group, those in their 50s accounted for the largest share at 33%, followed by those in their 60s at 24% and those in their 40s at 18%. They were followed by those 70 and older at 11%, those in their 30s at 9%, and those in their 20s and younger at 5%. Participation stood out among middle-aged and older adults, who tend to have relatively higher demand for stable asset management.
By investment amount bracket, customers investing less than 10 million won accounted for the largest share at 34%. Those investing 10 million won to less than 30 million won made up 24.3%, 30 million won to less than 100 million won 27.1%, 100 million won to less than 300 million won 12.7%, 300 million won to less than 1 billion won 1.6%, and 1 billion won or more 0.3%.
An analysis of IMA subscribers' prior investment experience found that experience in domestic bond investing was the highest at 47.3%, and experience in fund investing was also higher than the average for retail investors.
By contrast, the share with experience in short-term products such as RPs (5%) was relatively low. The IMA is being perceived not as a simple substitute for deposits but as an "asset allocation" product incorporated as one pillar in a portfolio from a medium- to long-term perspective, and it is interpreted as being chosen mainly for stable management and diversification needs rather than for short-term turnover.
Kim Seong-hwan, president of Korea Investment & Securities Co., said, "We identified the characteristics of IMA investors in a multidimensional way across several indicators, including participation channels, investment size, age groups, and prior investment experience," and added, "We see this as a result that reflects Korea Investment & Securities Co.'s wealth management capabilities in meeting diverse investment demand, and based on the confirmed demand and customer characteristics, we will further advance management and product design so the system and products can take root in the market."