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Wed, February 2, 2022 | 21:53
Non-banks
Mirae Asset's global ETF business growing fast
Posted : 2019-08-04 15:45
Updated : 2019-08-04 15:45
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Mirae Asset Global Investments' exchange-traded funds (ETF) business is growing rapidly as expands into foreign markets.

As of the end of June, Mirae Asset managed 340 ETFs worth over 38 trillion won ($31.6 billion) in eight countries ― Korea, Canada, Australia, Hong Kong, Columbia, Brazil and India. ETF is a basket of securities ― stocks, bonds, commodities or a mix ― traded on stock exchanges.

ETF assets under management have grown seven times that of the company's 2011 figure when it first entered foreign markets, and the number of listed ETFs has grown more than three times.

Mirae Asset's ETFs were launched in 2006, as three "TIGER ETFs" were listed on the Korea Exchange.

The TIGER ETFs provided a portfolio that allocated global assets to the local ETF market.

In June, the TIGER ETF managed local assets amounted to 10 trillion won, and accounted for 24 percent of the local market.

In 2011, Mirae Asset acquired Canada's Horizons ETF Management and Australia's BetaShares.

In June, Horizons ETFs had 90 listed ETFs on the Toronto Stock Exchange, with assets amounting to 9 trillion won.

BetaShares ETFs managed 52 ETFs with assets amounting to over 6 trillion won as of the end of June.

In 2018, Mirae Asset acquired Global X, a New-York-based provider of ETFs. Global X is distinguished by its thematic, income and international ETFs including those investing in robots and artificial intelligence.

In April, Mirae Asset listed the CLOU ETF investing in cloud-computing related firms on NASDAQ.

Its global ETFs ranked 18th among global asset management firms in terms of managing assets as of the end of June.





 
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