Mirae Asset Securities (006800.KS) said Thursday it will launch its "Mirae Asset IMA No. 2" product, three months after introducing its first IMA product in December last year.
IMA No. 2 is a closed-end product with a three-year maturity. The minimum investment is 1 million won and the maximum investment limit is 10 billion won. The funds raised will be diversified across various corporate finance and venture capital assets, including corporate loans, acquisition financing, unlisted company investments and venture capital (VC).
The firm will accept subscriptions from Friday through Sunday, targeting a total of 100 billion won ($72 million), including 5 billion won in seed money from Mirae Asset Securities. Returns are not fixed at the time of subscription, and the final redemption amount will be determined based on actual investment performance at maturity.
An IMA, or Investment Management Account, is a financial product in which a securities firm directly manages client funds and distributes returns based on investment performance. The securities firm bears responsibility for repaying the principal based on its own credit.
"The Mirae Asset IMA product ensures that Mirae Asset Securities pays back the principal at maturity, while pursuing both stable returns and additional profit opportunities through diversified investments in interest-rate assets such as managed bonds, as well as mezzanine, corporate finance and alternative assets," a Mirae Asset Securities official said.