About us
(Seoul=Yonhap Infomax) Gyeong Eun Park = Mirae Asset Securities Co., Ltd. is set to launch its first Integrated Managed Account (IMA) product next month. The company, which has long prioritized asset allocation as a core philosophy, aims to introduce a new investment paradigm through the IMA, enabling individuals to share in the long-term profit sources of corporations.
Mirae Asset Securities to Leverage Group’s Expertise in Identifying High-Quality Domestic and Global Assets
The firm plans to fully utilize the group’s proven track record in proactively sourcing high-quality investment assets both domestically and internationally. Mirae Asset Securities is positioning the IMA as a “direct channel” for introducing attractive assets to clients, expressing high expectations for this new offering.
“The IMA will become a key pillar in clients’ asset allocation,” said Nam Young Park, Head of the IMA Division at Mirae Asset Securities, in an interview with Yonhap Infomax on the 24th. “From a client’s perspective, it is an attractive product where 10–20% of their total assets can be comfortably allocated.”
Park explained that the most intuitive way to describe the IMA is “corporate credit.” He stated, “Think of it as sharing in the profit sources generated by corporations. The securities firm assumes the risk and return burden, while providing principal protection to clients.”
Product Competitiveness Hinges on Underlying Corporate Credit Assets
The competitiveness of the product ultimately depends on which corporate credit assets the securities firm includes in the IMA and how distinctively the product is structured. Various price movements—such as corporate lending rates, listed company share prices, and the mezzanine and private investment markets—are directly or indirectly linked to returns.
Park emphasized, “This product will deliver higher returns than bank deposits while maintaining stability,” expressing his intention to establish the IMA as another asset allocation option.
Park’s background in credit and multi-asset management underpins his approach to the IMA. He began his career at Deloitte Anjin LLC in 2000, entered the financial investment industry in 2006, and gained experience at Hana UBS Asset Management and Shinyoung Securities’ research center, focusing on credit products. He joined Mirae Asset in 2011, expanding his expertise to include not only credit but also mezzanine assets—then in their early stages—as well as principal investment (PI), equities, and private assets within the multi-asset management division.
“The company has already accumulated know-how in investment strategy and risk management through managing group assets both domestically and abroad,” Park said. “Personally, I believe my experience managing a broad range of assets will be fully reflected in the IMA division.”
IMA Offers a Streamlined Vehicle for Attractive Assets
Mirae Asset’s rationale for viewing the IMA as an “attractive vehicle” is clear: the group can package high-quality assets it has sourced into products with a much simpler structure than traditional funds, allowing timely proposals to clients. The high degree of flexibility in IMA product design theoretically enables the creation of “customized” products.
“The IMA is an extremely attractive vehicle,” Park stressed. “If there are good assets, a direct channel now exists for immediate productization.” He added, “Unlike before, there is no need to separately plan a fund and outsource to an asset manager. The structure now allows for timely proposals to clients.”
Final preparations are underway for the first product launch. Regarding its composition, Park explained, “We can mix various assets related to corporate credit, such as corporate bonds, private placements, loans, mezzanine, equity, and private assets. We have structured the product to deliver alpha above commercial bank interest rates.”
On venture capital, Park said, “We will operate in line with the purpose of IMA designation, and we have ample experience based on group affiliates in areas such as venture capital and pre-IPO.” He added, “While details need to be reviewed, the National Growth Fund also offers clear risk diversification benefits and is an attractive asset for the IMA.”
gepark@yna.co.kr
(End)
Copyright © Yonhap Infomax Unauthorized reproduction and redistribution prohibited.