People-participation National Growth Fund 3quarter 6,000billion additionally raised
The Financial Services Commission 14announced on 3during the quarter, 6,000worth billion won, 2that it would establish the national participation National Growth Fund. 1The announcement said the funds would be supplied quickly by reallocating the existing budget, reflecting the fact that the fund was sold rapidly.
The Financial Services Commission 14announced on 3during the quarter, 6,000worth billion won, 2that it would additionally establish the national participation National Growth Fund. It said funds would be supplied quickly by reallocating the existing budget to reflect demand from individual investors.
Last month, on 22launched, the 1fund 5sold out early in just days. On some online channels, the allocated amount was exhausted in just 10minutes.
Considering the high demand, the government decided to bring forward its original plan and establish the 2fund. This will be done by reallocating the existing budget without drawing up a supplementary budget.
The Financial Services Commission explained that this decision aims to provide funds swiftly. 2Details such as the specific manager of the fund, investment targets, and subscription schedule will be announced later.
This announcement is an example of the government reintroducing a public offering fund in response to demand from individual investors. Once the detailed management methods are released, investor guidance and the subscription process will be disclosed.
Those wishing to invest should check the manager, eligible holdings, redemption conditions, and allocation criteria in the subscription notice to be disclosed later.