Value context and insight. lkm@koreatimes.co.kr
Mirae Asset underlines AI-powered growth strategies during India seminar
Officials of Mirae Asset Global Investments pose in Mumbai, India, Friday. Courtesy of Mirae Asset Global Investments
By Lee Kyung-min
Mirae Asset Global Investments discussed key growth strategies for India during a seminar titled “New AGE: The Future Ahead” in Mumbai, Friday, the firm said Sunday.
The seminar covered topics such as exchange-traded fund (ETF) innovation, artificial intelligence (AI) transformation and private equity market expansion.
The event was attended by Mirae Asset Group Global Strategy Officer and Chairman Park Hyeon-joo and Mirae Asset Asset Management India CEO Swarup Mohanty, as well as the group’s executives.
The group’s India unit registered $23 billion (34 trillion won) in total assets under management as of the end of December last year, the ninth-largest within the country.
It has $1.5 billion in ETF assets, the sixth-largest within the country. Mirae Asset Nifty Electric Vehicle & New Age Automotive, Mirae Asset Nifty India Manufacturing and Mirae Asset Nifty India New Age Consumption were its key products.
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During the seminar, Park stressed innovation in ETFs, AI transformation and private equity market investments as key growth drivers.
He said Mirae Asset will help guarantee greater ETF market access, aided by the robust network of Sharekhan, one of India’s largest brokerages.
Park said AI-powered products, or what he characterized as “killer products” that are unmatched in quality and customer service, will bring changes to the financial market.
“We will create new investment opportunities, underpinned by AI-oriented ETF products,” he said. “Further, we will transform India into an AI innovation hub through close collaboration with our global affiliates.”
The group unveiled plans to fortify venture capital investments in budding startups, private equities and investment banking entities.
Mirae Asset India has invested a combined $590 million in fintechs, including Raise Financial Services and KreditBee, as well as Zomato, India’s leading food delivery platform.
Mohanty said Mirae Asset’s standing in India will continue to strengthen, bolstered by its strong brand recognition, ETF expertise and local financial partnerships.
“Mirae Asset has led the growth of ETFs in India and will continue to fortify its leadership in the global financial market,” Mohanty said.