Korea Investment & Securities announced it will begin sales of the nation's first Integrated Managed Account (IMA) product on January 18, following its designation as the country's first licensed IMA operator.
An IMA is a performance-linked product with principal payment obligation, where securities firms pool customer deposits to invest in corporate finance assets including venture capital, returning profits to customers based on investment performance.
The inaugural IMA product features a two-year closed-end structure with a minimum investment of 1 million won and no per-person investment cap. The subscription period runs through January 23, with enrollment available through Korea Investment & Securities branch offices, website, and mobile trading system. As a performance-linked product, returns are not predetermined but determined at maturity based on asset management performance and asset values.
The investment portfolio will center on corporate finance assets with relatively stable cash flows, including corporate loans, corporate bonds, and acquisition financing. The strategy prioritizes principal preservation while seeking returns above market rates through diversified investment in alternative assets from unlisted and private markets that have traditionally been inaccessible to retail investors.
Korea Investment & Securities said it will faithfully fulfill its regulatory obligation to supply venture capital while planning to gradually introduce various IMA products differentiated by customer segment, maturity, and risk level based on market response and investment performance.
"IMA is not simply a new product but productive financial infrastructure connecting asset management and corporate finance," Korea Investment & Securities CEO Kim Sung-hwan said. "Following our first-mover position in commercial paper, we will responsibly fulfill our role as the first IMA operator in growing the market and establishing standards."
