The South Korea Financial Services Commission reported that cumulative sales of the second Public Participation Growth Fund reached about KRW 437 billion after seven business days, equal to 72.8% of its KRW 600 billion target. Sales for the latest day totaled KRW 31.04 billion, comprising KRW 25.98 billion through securities firms and KRW 5.06 billion through banks. Reflecting stronger sales through securities firms, Mirae Asset, Samsung and KB Asset Management reallocated part of the volume assigned to banks to securities firms after consulting distributors. About KRW 163 billion remains available on a first come, first served basis for the final three business days through Oct. 15, when sales are scheduled to close.
South Korea Financial Services Commission reports fund sales reach KRW 437 billion as managers shift allocations to securities firms
The South Korea Financial Services Commission reported that seven-day sales of the second Public Participation Growth Fund reached about KRW 437 billion, or 72.8% of its KRW 600 billion target. Fund managers shifted part of the bank allocation to securities firms, with about KRW 163 billion remaining for sale through Oct. 15.