Mirae Asset Securities said on March 24 it will launch its second Mirae Asset Investment Management Account (IMA) product.

IMA is a financial product in which a securities firm directly manages clients' funds and distributes returns based on performance. A key feature is that the securities firm bears payment responsibility for the principal based on its credit.

The second IMA is a three-year closed-end product, with a minimum subscription of 1 million won and a maximum investment limit of 10 billion won. Sales will run from March 25 to 27 on a first-come, first-served basis for a total of 100 billion won, including 5 billion won seeded by Mirae Asset Securities.

The return is not fixed at the time of subscription, and the final redemption amount at maturity will be determined by actual performance.

The funds raised will be diversified across various corporate finance and venture capital assets, including corporate loans, acquisition finance, investments in unlisted companies and venture capital (VC). It is designed to pursue both stability and profitability.

Mirae Asset IMA products pay out the principal at maturity by Mirae Asset Securities. They also seek stable returns and additional return opportunities through diversified investment across interest rate-type assets such as managed bonds and mezzanine, corporate finance and alternative assets.