The South Korea Financial Services Commission reported that sales of the second Public Participation Growth Fund reached KRW 330.16 billion during its first five business days through Oct. 7, equal to 55% of the KRW 600 billion target. From Oct. 8, the remaining units are available without the temporary lower-income investor allocation and online sales limits that applied during the initial sales period. Lower-income investors subscribed KRW 111.45 billion, or 33.8% of total sales, broadly matching their 35% share in the first fund. Online subscriptions accounted for 76.7% of sales. Securities firms sold KRW 189.19 billion, or 57.3% of the total, compared with KRW 140.97 billion through banks. The three public fund managers have adjusted allocations among distributors based on sales, and remaining units will be available through Oct. 15 unless exhausted earlier. Existing subscribers may make additional investments during the sales period within the KRW 100 million annual limit.
South Korea Financial Services Commission reports KRW 330.16 billion in second Public Participation Growth Fund sales, lifts allocation limits
The South Korea Financial Services Commission reported five-day sales of KRW 330.16 billion for the second Public Participation Growth Fund, reaching 55% of its KRW 600 billion target. Lower-income investors accounted for 33.8% of sales and online channels for 76.7%. Remaining units are available from Oct. 8 without the initial allocation and online sales limits.