NH Investment & Securities sold out its second IMA (Investment Management Account) product worth 1200 billion KRW in approximately 3 hours after opening subscriptions. Korean securities firms' IMA products are attracting renewed investor attention as stock market volatility increases and expected equity returns decline. IMA accounts offer principal guarantees while providing potential yields higher than bank deposits, with securities firms directly assuming principal repayment obligations for these products available only to comprehensive financial investment firms with over 8 trillion KRW in equity capital.
NH Investment & Securities Sells Out 1200 Billion KRW IMA in 3 Hours
NH Investment & Securities completed募集 for its second IMA product and is preparing to launch a third product. The firm entered the IMA market as the third operator following Mirae Asset Securities and Korea Investment Securities. NH Investment & Securities raised 400 billion KRW with its first product, and its second product reached the 1200 billion KRW limit in approximately 3 hours after募集 began. The firm recorded the fastest sales speed despite being a latecomer to the IMA market.
Korea Investment Securities Accumulates 2.8 Trillion KRW in IMA Sales
Korea Investment Securities, the first IMA operator, completed募集 for its sixth product. The firm's cumulative IMA sales balance exceeded 2.8 trillion KRW. Mirae Asset Securities, which started IMA business alongside Korea Investment Securities, launched three products with a cumulative sales balance of 300 billion KRW.
IMA products are available only to comprehensive financial investment firms with equity capital exceeding 8 trillion KRW after receiving regulatory approval. Securities firms invest customer funds in corporate finance assets and repay principal at maturity while distributing additional returns based on operational performance. While not covered by deposit insurance, securities firms guarantee principal repayment.
Securities firms typically set a 4% benchmark yield for IMA products. When returns exceed the benchmark, firms deduct a portion as performance fees and distribute the remainder to customers. If returns fall below the benchmark, firms pay the entire operational profit to customers. In case of losses, securities firms cover the principal.
Mirae Asset Securities' First IMA Records Over 11% Return
Mirae Asset Securities' first IMA product, established on December 26 last year, recorded an operational return exceeding 11%. The product invested in corporate finance assets including RCPS (Redeemable Convertible Preferred Stock) of a domestic AI semiconductor (NPU) company and mezzanine financing for a low-power memory semiconductor fabless company.
KB Securities Prepares to Enter IMA Market
KB Securities is positioned to become the fourth IMA operator. The firm decided on a 1 trillion KRW capital increase, which will bring its equity capital to over 8.6 trillion KRW upon completion of payment, meeting the capital requirement to apply for IMA business approval. To actually start IMA operations, KB Securities must pass regulatory designation as a comprehensive financial investment firm and undergo reviews of internal controls, conflict of interest prevention systems, specialized personnel, and physical facilities.
FAQ
What is an IMA product offered by Korean securities firms?
An IMA (Investment Management Account) is a principal-guaranteed account where securities firms invest customer funds in corporate finance assets and distribute returns based on operational performance. Securities firms with equity capital exceeding 8 trillion KRW can offer IMA products after receiving regulatory approval, and they directly assume principal repayment obligations.
How fast did NH Investment & Securities sell its second IMA product?
NH Investment & Securities sold out its second IMA product worth 1200 billion KRW in approximately 3 hours after opening subscriptions, recording the fastest sales speed among IMA operators despite being a latecomer to the market.
