Park Han-sol reports on Korea's financial regulators, along with fintech and insurance. She previously wrote about the art world, from biennales and exhibitions to fairs and auctions, with a focus on Seoul and the figures shaping the scene. Before joining The Korea Times, she spent a year at ABC News' Seoul bureau, contributing to coverage of major Asia-Pacific events.
Mirae Asset ranks No. 11 globally as ETF assets reach $282 bil.
A digital billboard for Global X US, Mirae Asset Global Investments' U.S.-based exchange-traded fund arm, is seen in New York. Courtesy of Mirae Asset Global Investments
By Park Han-sol
Mirae Asset Global Investments has grown its global exchange-traded fund (ETF) business to 389 trillion won ($282 billion) in assets, making it the world’s 11th-largest ETF manager, the company said Thursday.
As of Aug. 17, the asset manager offered 775 ETFs with combined net assets of 389 trillion won across Korea, the U.S., Canada, Australia, India and Japan, ranking 11th globally and second in Asia behind Nomura, according to research firm ETF Global Insight.
Its ETF assets have grown at an average annual rate of 37.4 percent over the past decade, well above the 21.7 percent growth recorded by the global ETF industry over the same period.
The expansion has been notably pronounced overseas. Global X US, Mirae Asset’s U.S.-based ETF arm, recently surpassed $100 billion in assets, nearly 18 times the 8 trillion won it managed when Mirae Asset acquired the business in 2018.
Growth has also been strong across Global X’s other regional operations. Global X EU has posted average annual growth of 223 percent over the past five years, while Global X Japan crossed 1 trillion yen in assets six years after its launch. Global X Canada and Global X Australia are managing $40 billion and $13 billion, respectively.
The group is now looking to artificial intelligence (AI) to drive the next leg of ETF growth, working with AI-focused affiliates such as the U.S.-based Wealth Spot and Australian robo adviser Stockspot to develop investment strategies and strengthen its digital wealth management capabilities.
Mirae Asset also brings together ETF executives from its global operations each year at its “ETF Rally” to share market developments and discuss growth strategies as part of its efforts to deepen collaboration across the group.