Financial Services Commission Sells Second Batch of 80 Billion KRW 'National Participation New Deal Fund'
[Asia Economy Reporter Kwangho Lee] The second sale of the government-led 국민참여 정책형뉴딜펀드 (National Participation Policy-type New Deal Fund) is set to begin.
The Financial Services Commission announced on the 25th that from the 29th, for two weeks, it will conduct the second sale of the 'National Participation New Deal Fund' worth 80 billion KRW targeting the general public.
A fund worth 100 billion KRW will be formed with 80 billion KRW from public funds and 20 billion KRW from government finances. Next month, investments will be made into seven sub-funds, with six sub-fund management companies investing in New Deal sector companies.
The sellers of this National Participation New Deal Fund include five banks: KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup; and eleven securities firms: DB Financial Investment, Shinhan Financial Investment, IBK Investment, KB, Hana Financial Investment, Hanwha, Hyundai Motor, Kiwoom, Korea Investment & Securities, Yuanta, and Korea Investment, totaling 16 institutions.
The subscription limit is up to 300 million KRW per person. However, individual confirmation by each seller is required.
The National Participation New Deal Fund is a closed-end product with a maturity of four years, and early redemption is not possible, making it suitable for investors capable of long-term investment.
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A Financial Services Commission official stated, "From the fund formation in December, investments will be made over two years into listed or pre-listed companies operating in the New Deal sector, and when investment funds are recovered, the citizens who subscribed to the fund product will share the profits." He added, "After the fund is sold, the fund managers of the management companies operating the second raised funds will regularly introduce the investment status and management strategies of the public funds directly to the public through videos."
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