A total of 1.12 trillion won was raised through two rounds of sales of the National Participation Growth Fund this year. The second round of the fund closed its sales after raising 519.8 billion won, which accounted for 86.6% of its target amount.
The Financial Services Commission announced that the sale of the second round of the National Participation Growth Fund, which was conducted over a period of 10 business days starting from the 30th of last month, ended on the 15th. The fund was sold through a total of 24 financial institutions, including 10 banks and 14 securities firms.
The amount raised in the second round was 519.8 billion won, representing 86.6% of the initial target of 600 billion won. This figure includes 15 billion won invested with proprietary assets by three public fund management companies for responsible management purposes. Previously, 600 billion won was raised in the first round, bringing the total amount raised this year to 1.12 trillion won.
By sales channel, sales through securities firms amounted to 334.5 billion won, accounting for 66% of total sales. Bank sales were 170.3 billion won, or 34%.
The share of retail investors in the total sales amount was 26.5%. The proportion of retail investors in bank sales was 28.6%, while it was 25.4% for securities firms. The online sales ratio increased from 44% in the first round to 83.7% in the second round.
The three master funds of the second round of the National Participation Growth Fund are scheduled to be established on the 16th. Following this, actual investments are expected to begin through 10 sub-funds starting from the 19th.
There are a total of 10 sub-fund management companies: two large-scale, four mid-sized, and four small-scale. The large-scale managers are DS Asset Management and Korea Investment Value Asset Management. The mid-sized managers are Brain Asset Management, KB Asset Management, Quad Asset Management, and Truston Asset Management. The small-scale managers are DB Asset Management, NH Hedge Asset Management, Torus Asset Management, and Hana Asset Management.
Investors can check current returns through their subscription accounts. After the fund is established, detailed management status can be reviewed through asset management reports prepared every three months.
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