Second National Participation Growth Fund Raises 519.8 Billion Won, Reaching 86.6% of Target

Second Round Falls Short of Full Subscription
National Participation Growth Fund Raises 1.12 Trillion Won This Year

The second National Participation Growth Fund raised approximately 520 billion won but failed to reach its target, falling short of a full subscription. As a result, the total amount raised through the two rounds of sales of the National Participation Growth Fund this year came to 1.12 trillion won.

The Financial Services Commission said sales of the second National Participation Growth Fund, which ran for 10 business days starting September 30, ended on October 16. The fund was sold through a total of 24 financial institutions: 10 banks and 14 securities firms.

The second fund raised 519.8 billion won, or 86.6% of its initial target of 600 billion won. This includes 15 billion won invested from the own assets of three public offering fund managers to demonstrate their commitment to responsible management.

By sales channel, sales through securities firms totaled 334.5 billion won, accounting for 66% of all sales. Banks accounted for 170.3 billion won, or 34%.

Low-income investors accounted for 26.5% of total sales. They made up 28.6% of bank sales and 25.4% of sales through securities firms. The share of online sales rose from 44% for the first fund to 83.7% for the second.

The three master funds of the second National Participation Growth Fund will be established on October 16. Actual investments are scheduled to begin on October 19 through 10 sub-funds.

The 10 sub-fund managers comprise two large, four medium-sized, and four small firms.

Investors can check detailed information on fund management through an "Asset Management Report" prepared and provided every three months after the fund is established.

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