Mirae Asset proves global leadership through successful financial product exports
Mirae Asset Global Investments, the asset management unit of Mirae Asset Financial Group, said on June 19 that it has been marking its growth in the global financial market by selling over 1,700 financial products in 36 countries around the globe.
Since establishing the first South Korean asset management subsidiary in Hong Kong in 2003, it has expanded its overseas business to India, US, UK and Brazil.
On the back of such preemptive action, the company’s operating assets marked over 74 trillion won ($61.05 billion) as of end-April, accounting for some 47 percent of its total assets.
Mirae Asset Global Investments Tower in Shanghai (Mirae Asset Global Investments)
Starting with Mirae Asset Asia-Pacific Star Fund in 2005, the company introduced the nation’s first overseas fund to local investors. It also rolled out SICAV, an open-ended mutual fund in Luxembourg for offshore investors three years after.
The exchange-traded fund business is another forte of the asset manager. The total amount of 368 global ETF products reached about 40 trillion won as of end-April -- jumping about six times from 2011, the firm said.
This accomplishment has led it to list on the top 10 with most ETFs’ net assets among asset management firms around the world.
Responding to the era of low growth, low inflation and low interest rates, officials said the Korean asset manager would provide effective investment solutions by exporting financial products.
By Jie Ye-eun (email@example.com)