Mirae Asset Securities said on the 26th that its "Mirae Asset comprehensive investment account (IMA) No. 2" product sold out early, filling the entire 100 billion won offering just two trading days after launch.
IMA No. 2 raised 92.2 billion won on the first day of sales, and with the remaining amount sold out on the second day, sales ended earlier than the originally scheduled deadline of 4 p.m. on the 27th.
The IMA is a performance-linked product in which the securities firm directly manages client funds and distributes revenue according to the results. A key feature is that the principal is backed by the securities firm's credit, which carries the obligation to pay.
IMA No. 2 is a closed-end structure with a three-year maturity, with a minimum subscription of 1 million won and an individual investment limit of 10 billion won. The reference rate of return is set at 4%.
Earlier, "Mirae Asset IMA No. 1," launched in Dec. last year, also drew about 475 billion won for a 95 billion won offering, recording a competition ratio of 5 to 1.