National Participation Growth Fund Sells 214 Billion Won on Launch Day, Achieves 35.7% of Target

KB, NH, Mirae Asset Sell Out Online Quota on First Day

Second Tranche Follows Strong Demand After First Sold Out in Five Days

The second tranche of the National Participation-Type Growth Fund (National Participation Growth Fund) continued to enjoy strong demand, with sales exceeding 200 billion won on its launch day. Contrary to expectations that the pace of sales would slow due to a downturn in the stock market, more than one-third of the fundraising target was sold on the very first day.

According to the Financial Services Commission on September 30, approximately 214 billion won of the second National Participation Growth Fund, launched on the same day, was sold on its first day. This amounts to 35.7% of the total fundraising target of 600 billion won. The fund is scheduled to be available for sale to the general public for a total of 10 business days.

In particular, all the online sales quotas for KB Securities, NH Investment & Securities, and Mirae Asset Securities were exhausted on the first day. To mitigate demand concentration at the start of the sale, the Financial Services Commission limited the amount that each firm could sell online to 60% of their allocated quotas during the initial 5 business days.

Accordingly, these three securities companies will only conduct offline sales through their branches until October 7. From the sixth business day, which falls on October 8, the remaining quota will be offered simultaneously both online and offline.

This second tranche was introduced in response to the first fund, which was launched at the end of May and was sold out early. Interest was so high in the first fund that all prepared quotas were exhausted within just five business days of launch.

The Financial Services Commission expanded participation opportunities for low-income individuals and young people in the second tranche. In particular, the quota prioritized for low-income investors was significantly increased from 20% of the total supply during the first tranche to 50%, amounting to 300 billion won in the second tranche.

While there were concerns that sales pace could slow compared to the first tranche due to the recent weakness in the stock market, 35.7% of the second tranche's target was sold on its launch day, indicating a stronger-than-expected start in initial sales.

This content was produced with the assistance of AI translation services.