Bo-eun leads the digital content team. She has covered foreign affairs, North Korea, tech, economy and gender issues at The Korea Times. She did a short stint at the South China Morning Post in Hong Kong, where she obtained a new perspective on news production and life. Small sources of joy for her are lounging in the sun, having a good latte and swimming.
Mirae Asset global ETFs accelerate growth
Horizons ETFs CEO Steve Hawkins, third from left, speaks during a Mirae Asset Global ETF Rally held in Seoul, June 7. / Courtesy of Mirae Asset Global Investments
By Kim Bo-eun
By Kim Bo-eun
Mirae Asset Global Investments' exchange-traded funds (ETF) business is accelerating growth based on active M&As around the world.
The asset management firm is managing ETFs worth over 45 trillion won ($38 billion) in eight countries ― Korea, Canada, Australia, China, the U.S., Colombia, Brazil and India.
An ETF is a basket of securities ― stocks, bonds, commodities or a mix of these ― traded on stock exchanges.
The scale of Mirae Asset's ETFs has grown by more than 13 trillion won in the first few months of this year.
Mirae Asset's ETFs were first launched in 2006 as three "TIGER ETFS" listed on the Korea Exchange. Mirae Asset's ETFs now make up a 24 percent share of the local market.
In 2011, Mirae Asset acquired Canada's Horizons ETF Management and Australia's BetaShares.
As of December 2019, Horizons ETFs had 91 listed ETFs on the Toronto Stock Exchange, with total assets exceeding 9 trillion won.
BetaShares ETFs is one of Australia's four major ETF managers. It managed 62 ETFs, with assets amounting to 8 trillion won, as of December last year.
In 2018, Mirae Asset acquired the New-York-based Global X, which manages 11 trillion won in ETFs.
Last year, Mirae Asset listed ETFs on stock exchanges of Brazil and India.
Mirae Asset's global ETFs ranked 18th in asset size among global asset management firms, according to global ETF research firm ETFGI.
Mirae Asset plans to further expand its ETF managed portfolios, based on its global ETF lineup.