Korea Investment & Securities Co. said on the 22nd that its second integrated managed account (IMA) product, "Korea Investment IMA S2," completed its launch after drawing about 738.4 billion won in four business days of subscription.
Following the first IMA introduced in Dec. last year, the second product also attracted a large amount of funds in a short period, bringing about 1.8 trillion won into the Korea Investment & Securities Co. IMA alone.
Korea Investment & Securities Co. said the result reflects investors' improved understanding of the IMA product structure and the expansion of sales channels and customer touchpoints, which rapidly increased participation among retail clients.
Of the funds raised from individual customers for this product, 11% came from new transaction customers, and 56.8% were new funds drawn from other financial institutions. Compared with the first offering, the share of new money increased, indicating a "MoneyMove" that reflects rising interest in financial investments.
Korea Investment & Securities Co. emphasized that performance drivers included deal-sourcing capabilities based on IB competitiveness, portfolio management know-how accumulated as Korea's first short-term note issuer, and strengthened retail sales power working in tandem. The company said swiftly packaging high-quality investment asset secured through corporate finance and supplying them in a timely manner to meet investor demand enabled the rapid inflow of funds.
Korea Investment & Securities Co. is currently preparing to launch the third IMA product. The company plans to selectively utilize secured IB deals and managed asset to diversify maturity structures and asset composition, while gradually expanding the product lineup in stages in line with market demand and the investment environment.
President Kim Seong-hwan said, "Based on our IB competitiveness and experience in managing short-term notes, we will sequentially roll out follow-on IMA products and establish ourselves as a corporate finance-based investment platform that contributes to customers' asset building."