Samsung Securities Sells Out Initial Allocation of Second-Round National Growth Fund; Offers Additional KRW 14.7 Billion
Samsung Securities said on October 13 that the initial allocation of the public-participation National Growth Fund sold out, and that it will offer an additional KRW 14.7 billion in the second round of sales.
The public-participation National Growth Fund is a product that investors subscribe to through a dedicated account. Investors who hold it for at least three years are eligible for an income tax deduction of up to 40% of their investment and separate taxation on dividend income. The initial allocation sold out on the morning of October 8.
The second-round National Growth Fund will be available for purchase only through October 15. It is a publicly offered closed-end fund with a five-year maturity, and early redemption is not possible.
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A Samsung Securities official said, "Customers showed strong interest in the National Growth Fund, and the initial allocation for the second round has also sold out, following the first round." The official added, "We will begin offering an additional KRW 14.7 billion on October 13, and will do our best to provide investment opportunities to customers interested in the National Growth Fund."
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