Korea Investment & Securities Co. said on the 13th it will launch its second integrated managed account (IMA) product. The subscription period runs from the 16th to the 21st of this month.
An IMA is a performance-linked product with a principal payment obligation in which a securities firm pools customer deposits to invest in corporate finance assets such as venture capital and returns the performance to customers based on operating results. The first IMA product in Korea, launched by Korea Investment & Securities Co. in Dec. last year, drew 1.059 trillion won in four trading days.
The newly launched "Korea Investment IMA S2" is designed as a closed-end structure with a maturity of 2 years and 3 months. The minimum subscription amount is 1 million won. The revenue paid to customers is finalized based on asset management performance and asset value at maturity. The offering size is around 1 trillion won.
Subscriptions are available through Korea Investment & Securities Co. branches and the mobile trading system (MTS).
The product is operated with core assets focused on relatively stable corporate finance assets such as domestic acquisition finance and corporate loans. Prioritizing stable preservation of principal and aiming to generate returns exceeding market interest rates, it diversifies into alternative investment assets that general retail investors have found difficult to access directly, Korea Investment & Securities Co. noted.
There will also be events for customers. For this product, the first 500 Bankis account customers investing 10 million won or more will receive 10,000 won, and the first 100 customers investing 100 million won or more will receive 100,000 won. In addition, through a net purchase event, Bankis account customers investing 30 million won or more and 100 million won or more will receive 30,000 won and 50,000 won, respectively.
Event registration is available starting at 5 p.m. on the 13th. Event benefits are not applied cumulatively. There is also an event for branch account customers that offers gift certificates and prizes depending on the investment amount.