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July 17, 2024

Mirae Asset Global Investments surpasses W170tr in ETF net assets

PUBLISHED : June 14, 2024 - 17:48

UPDATED : June 14, 2024 - 17:53

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Advertisement for Tiger ETF in New York City (Mirae Asset Global Investments)

Mirae Asset Global Investments, Korea’s leading asset management firm, has significantly expanded its global footprint, now managing over 580 exchange-traded funds with net assets totaling 170 trillion won ($133 billion).

Since launching its first exchange-traded fund, Tiger ETF in 2006, Mirae Asset has grown into a formidable player in the global market, overcoming initial industrial skepticism toward a domestic financial firm.

In 2011, it became the first Korean asset manager to list on the Hong Kong Stock Exchange, marking the beginning of a series of international expansions and acquisitions. These include the purchase of Horizons ETFs in Canada, Global X in the US and ETF Securities in Australia, now known as Global X Australia.

As of May 2024, Mirae Asset manages 585 global ETFs, surpassing the total size of Korea’s domestic ETF market, which stands at about 170 trillion won. Notably, Global X has seen its net assets grow from 8 trillion won at the time of acquisition in 2018 to 66 trillion won in May 2024, marking an eightfold increase.

Now, the asset manager has its eyes on emerging markets. The firm’s Indian subsidiary, which launched its first ETF in 2018, now boasts a lineup of 20 ETFs and recently surpassed 1 trillion won in total net assets.

The company also strengthened its comprehensive management through index development, Mirae Asset Global Indices in India, and liquidity provision, with the acquisition of GHCO, a European market maker.

"Mirae Asset Global Investments is growing worldwide based on a global mindset and culture as a global financial company. We will also fully support Global X to lead the ETF industry," Mirae Asset Global Investments official said. "We will continue to strive to introduce high-quality products proactively through disruptive innovation."

Meanwhile, at the ETF Rally 2023 held in May last year, global ETF employees of Mirae Asset Global Investments gathered to discuss strategies for business synergies.

Global executives and employees at Mirae Asset Global Investments discuss exchange-traded fund business at the ETF Rally in May 2023. (Mirae Asset Global Investments)

By Park Se-ra (serap1005@heraldcorp.com)

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