Korea Investment & Securities Closes Online Sales of First IMA Product Early After Reaching 1 Trillion Won Target

Korea Investment & Securities' first Comprehensive Investment Account (IMA) product, the first of its kind in South Korea, closed its online sales early on December 23.

According to the financial investment industry, Korea Investment & Securities announced that it would close recruitment for the IMA No. 1 product, launched on December 18, after just four trading days as of this afternoon. The company had originally planned to sell the product until 5 p.m. that day, but reached the target fundraising amount of 1 trillion won earlier than expected, prompting the early closure. Offline sales will proceed as scheduled.

The IMA is a performance-based product in which securities firms pool client deposits and invest them in corporate finance assets such as venture capital, returning performance-based results to clients with a principal payment obligation.

Korea Investment & Securities' first IMA product is designed as a closed-end structure with a two-year maturity. The minimum subscription amount is 1 million won, and there is no individual investment limit. As long as the securities firm remains solvent, the principal is guaranteed, and the base rate of return is set at 4% per annum. For returns exceeding the base rate, Korea Investment & Securities takes a 40% performance fee, while the remaining 60% goes to the client.

Korea Investment & Securities, together with Mirae Asset Securities, was designated last month by the authorities as the first domestic IMA operator.