KOFIA "Caution Needed for Fund Redemption Schedule...Redemption Application Date 29th, Market Holiday 30th"

If Considering Redemption Payment Withdrawal, Schedule Must Be Confirmed in Advance

[Asia Economy Reporter Kwangho Lee] The Korea Financial Investment Association (KOFIA) has urged investors planning to utilize redemption proceeds within this year to be cautious, as the redemption processing schedule for funds investing in domestic stocks will be postponed due to the market closure on the 30th. The Korea Exchange will close after trading on the 29th and reopen on January 2nd next year.

According to KOFIA on the 20th, for equity-type and mixed equity funds with a stock inclusion ratio of 50% or more as stipulated in the collective investment regulations, redemption requests submitted before 3:30 PM on the 26th will be applied the disclosed reference price on the 27th.

However, under the Late Trading system, if the redemption request is submitted after 3:30 PM on the 26th, the reference price application date will be the 28th. In both cases, the payment date for redemption proceeds is the 29th.

Although the 30th is a non-business day due to market closure, sales offices will operate normally, allowing fund sales and redemption requests.

A KOFIA official stated, "For some funds such as overseas investment funds, the processing methods may differ according to individual collective investment regulations," and added, "Investors who need to withdraw redemption proceeds within the year should definitely contact their sales company in advance to confirm."

This content was produced with the assistance of AI translation services.