24 Institutions Including 5 Major Financial Holding Companies Invest to Establish 'Dahamtogether Korea Fund'
Total Size of the Fund is 10 Trillion KRW, Planned to be Executed After Capital Call Setup
[Asia Economy Reporter Koo Eun-mo] Korea Investment Trust Management announced on the 9th that it has successfully established the Securities Market Stabilization Fund (Sang-an Fund), 'Together Korea Fund,' which was promoted by the government to stabilize the stock market.
The Sang-an Fund involved 24 institutions as investors, including the five major financial holding companies. The fund was raised using a capital call method, where the initially raised capital is deployed first, with a total size of 10 trillion KRW.
Korea Investment Trust Management manages the overall operation of the fund and allocates funds to individual asset managers for operation. The Sang-an Fund is maintained for one year after the initial investment and can be operated for up to three years. To this end, last week, the composition of the individual asset managers' universe was completed, and the Investment Management Committee, composed of investors by financial sector, the Private Pension Investment Pool Secretariat (Korea Securities Finance), and external experts, approved the investment guidelines for fund operation.
A representative from Korea Investment Trust Management stated, "The newly established Sang-an Fund will serve as the first step in acting as a safety net for the stock market," and added, "We will work closely with related organizations to achieve the operational goal of market stabilization."
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