Mirae Asset Securities said on March 26 that its "Mirae Asset IMA No. 2" product sold out early after filling its full subscription amount of 100 billion won in two trading days from launch.
Its "Mirae Asset IMA No. 1," introduced in December last year, also attracted about 475 billion won for a 95 billion won offering, posting a 5-to-1 ratio. With the second product also selling out, it confirmed investors' strong interest again.
An integrated management account (IMA) is a performance-linked product in which a securities firm directly manages client funds and distributes returns based on performance. The principal is a key feature, as the securities firm bears payment responsibility based on its credit.
Park Nam-young (박남영), head of the IMA Division at Mirae Asset Securities, said, "We will continue to introduce a variety of customer-centric products and will actively push to expand corporate finance and venture capital investment, as well as investment in global innovative companies."
Sangyeop Oh
yub@d-today.co.kr