Funds
Fondi
All funds managed by BNB Asset Management are general private funds. Only qualified investors as defined by law may invest in general private funds, and information on individual funds is likewise provided only after qualified investor verification. Ahead of verification, this page explains in general terms how private funds are structured and managed.
La versione italiana di questa pagina è in preparazione. Fino ad allora il testo è mostrato in inglese.
Avviso agli investitori
All financial investment products established and managed by our company are General Private Collective Investment Vehicles (General Private Funds) — private funds that may only be invested in by Qualified Investors with a certain level of risk tolerance (Professional Investors and General Investors investing at least KRW 300 million), as defined under the Financial Investment Services and Capital Markets Act (Article 9(19)(2)).
Please note that the fund performance data, benchmark comparisons, and other information regarding our managed funds provided on this website are for simple informational and reference purposes only, and do not constitute a solicitation to invest.
- Chi può vedere
- Investitori professionali ai sensi della FSCMA, oppure investitori generali che investono almeno il minimo (300 milioni di KRW)
Le informazioni su gestione e consulenza sono aperte a tutti.
Lo stato di investitore qualificato è confermato.
General Private Fund
What Is a General Private Fund?
A fund (collective investment vehicle) pools money from a number of investors, is managed by an asset manager, and returns the results to those investors. A fund that does not solicit investors publicly and is offered only to certain investors defined by law is called a private fund.
The Financial Investment Services and Capital Markets Act (FSCMA) divides private funds into institutional private funds and general private funds. General private funds are managed by general private collective investment business entities, and only qualified investors may invest in them. BNB Asset Management registered as a general private collective investment business in 2019, and all the funds it manages are private investment trusts.
Compared with public funds, general private funds are subject to somewhat lighter regulation of management and disclosure; in exchange, eligibility to invest is limited to investors with a certain level of risk-bearing capacity.
Qualified Investors
Who Is a Qualified Investor?
Qualified investors eligible to invest in general private funds fall into the following two categories (Article 9(19)(2) of the FSCMA).
Professional Investors
Professional investors as defined in the FSCMA, such as the State, the Bank of Korea, financial institutions, and listed companies. Corporations and individuals that meet certain requirements may also apply to a financial investment business entity to be designated as professional investors.
Retail Investors Investing at Least the Minimum Amount
Investors who are not professional investors also become qualified investors if they invest at least the minimum investment amount set by law (KRW 300 million). Depending on the extent to which a fund uses borrowing or derivatives, the statutory minimum investment amount may be higher.
- Even for qualified investors, the distributor carries out investor verification and product explanation procedures during subscription in accordance with the relevant laws.
How It Works
How Investing in a Private Fund Works
Subscribing Through a Distributor
Private funds are generally purchased through a distributor such as a securities firm or a bank. The distributor confirms that the investor is a qualified investor and explains the product and its risks.
Reviewing the Documentation
Before investing, review the investment strategy, fees and expenses, redemption terms, and key risks in the fund rules and explanatory materials. Retail investors receive a key product summary outlining the fund's main features and risks.
Payment and Fund Units
The money paid in becomes fund property held by the trustee (custodian), and the investor acquires beneficiary certificates (fund units) representing an interest in the fund.
Management
The asset manager manages fund property within the strategy and limits set out in the fund rules. Fund property is kept separate from the asset manager's own assets.
NAV Calculation and Reporting
The fund's NAV per unit is calculated by a fund administrator. The status of the fund is reported to investors in the manner prescribed by the relevant laws and the fund rules.
Redemption and Maturity
Depending on the fund, there are open-ended funds, which may be redeemed on set terms, and closed-ended funds, which cannot be redeemed until maturity. Please be sure to check the redemption terms and maturity before subscribing.
Net Asset Value
How the NAV per Unit Is Determined
The NAV per unit is calculated by dividing total net assets, which is the value of the fund's assets less its liabilities, by the total number of units in issue. Korean funds usually express it as an amount per 1,000 units, and the NAV at launch generally starts at KRW 1,000.
Assets with a market price are valued at market, while assets without one, such as unlisted shares, are valued at fair value using the methods set by the Collective Investment Property Valuation Committee. Fees and expenses paid out of the fund are reflected in the NAV.
The NAV per unit of BNB funds is calculated by the fund administrator, Shinhan Fund Partners.
| Item | Calculation |
|---|---|
| Total net assets | Total assets − total liabilities |
| NAV per unit | Total net assets ÷ total units in issue × 1,000 |
Fund Structure
The Institutions Around a BNB Fund
A private fund operates through a structure in which several institutions divide the roles. The asset manager concentrates on management, while custody of assets and NAV calculation are handled by separate institutions.
Asset Manager
BNB Asset Management
Manages fund property according to the strategy set out in the fund rules.
Distributors
11 firms
Handle investors' subscriptions and redemptions, and carry out investor verification and product explanation procedures.
Trustees (Custodians)
NH Investment & Securities · Mirae Asset Securities · KB Securities
Hold and administer fund property separately from the asset manager's own assets.
Fund Administrator
Shinhan Fund Partners
Handles the fund's general administration, including NAV calculation.
- Information on these institutions is based on the financial investment business report for Q4 of FY2025 (as of March 31, 2026) and may have changed since.
Safeguards in Management
Safeguards Applied in Managing BNB Funds
In addition to the division of roles among the institutions around each fund, BNB builds safeguards for investors into the management process itself. All of them are based on published rules and on procedures described on our website.
Fair allocation between funds
When several funds acquire the same asset together, results are divided according to an allocation statement prepared before the order, so that no particular fund or beneficiary is favored or disadvantaged (Pre-Allocation Regulation, adopted 2019 and amended 2020).
Valuing assets without market prices
Assets without market prices, such as Pre-IPO shares, are valued at fair value using methods set by the Collective Investment Property Valuation Committee, which oversees the independence and consistency of valuation.
Separating management from oversight
Decisions to invest are made after investment review, and the Compliance Team cross-checks each stage before, at the time of, and after investment. Before trading, Pre-Compliance screens out breaches of regulations and limits.
Loss control and crisis response
A loss-cut principle limits volatility risk, and matters concerning the suspension of redemptions due to the impairment of fund assets and similar events are deliberated by committee.
Regular disclosure and external audit
We post quarterly business reports and ad hoc disclosures on our website, and the company's financial statements are audited by an external auditor.
- These safeguards exist to manage risk; they do not remove the possibility of loss of principal.
Key Risks
Risks to Understand Before Investing
Risk of Loss of Principal
A fund is not a deposit. Investment principal may be lost due to changes in asset prices and market conditions, and any such loss is borne by the investor.
Liquidity and Redemption Restrictions
Closed-ended funds cannot be redeemed before maturity. Assets with limited marketability, such as unlisted shares, may be difficult to dispose of at the desired time, and redemptions may be deferred when fund property is difficult to dispose of.
Concentration Risk
When investment is concentrated in a particular strategy, sector, or a small number of holdings, prices may fluctuate more than in a diversified fund.
IPO-Related Risk
Losses may arise from the delay or cancellation of a listing, changes in the offering price, sale restrictions under lock-up commitments, or share price movements after listing.
Valuation Risk
Assets without a market price are valued at fair value, and the price actually realized on disposal may differ from the valuation.
Differences in Access to Information
Private funds have lighter disclosure obligations than public funds, so the range of information investors can verify for themselves may differ. Please review the explanatory materials carefully before subscribing.
Fees and Expenses
Fees such as management and distribution fees, and other expenses such as securities transaction costs, are incurred and affect investment results.
- Collective investment securities are not protected by the Korea Deposit Insurance Corporation under the Depositor Protection Act.
- Collective investment securities may incur a loss of investment principal due to changes in asset prices, market conditions, and other factors, and any such loss is borne by the investor.
- Additional costs, such as securities transaction expenses, may also be incurred.
- Past performance does not guarantee future returns and may vary depending on market conditions.
- In the case of class-type funds, performance may differ due to variations in the fees and charges applied to each class of collective investment securities.
FAQ
Frequently Asked Questions
Where is the money I invest in a fund held?
Fund property is held by the trustee (custodian), separately from the asset manager's property. This describes how the assets are held, however; it does not mean that principal is protected from investment losses.
How is qualified investor status confirmed?
The distributor confirms it at subscription. For professional investors, it confirms their status; for retail investors, it confirms that the amount invested is at least the statutory minimum.
Can I redeem before maturity?
It depends on the fund. Open-ended funds may be redeemed on the terms set out in the fund rules, and a redemption fee may apply. Closed-ended funds cannot be redeemed until maturity.
How can I check the status of a fund I have invested in?
You can check the NAV per unit and your balance through your distributor. Fund information on this website is provided as reference material after qualified investor verification.
Fund Information
Accessing Fund Information
Information on individual funds is provided after qualified investor verification. If you are a professional investor, or a retail investor who will invest at least the minimum amount (KRW 300 million), you may view fund information once the verification process is complete. For an access code, please call our main line at 02-476-4840.
- Please note that the fund performance data, benchmark comparisons, and other information regarding our managed funds provided on this website are for simple informational and reference purposes only, and do not constitute a solicitation to invest.
- This page provides general information on private funds and is not a solicitation to invest in any specific fund.
