Mirae Asset's European ETF arm surpasses $8 bil. in assets 5 years after entry
A Global X Europe advertisement is displayed on the digital board of the London Stock Exchange in this undated photo. Courtesy of Mirae Asset Global Investments
Global X Europe (GX EU), the European exchange-traded fund (ETF) subsidiary of Mirae Asset Global Investments, has surpassed $8 billion in assets under management (AUM), the company said Tuesday.
GX EU managed $8.03 billion in assets as of the end of January, a milestone reached about five years after the firm entered the European ETF market.
The company posted especially strong growth last year, with AUM jumping 214.6 percent, the fastest expansion among ETF providers in Europe. Over the past three years, its growth has also far exceeded the average pace of both the European and global ETF markets. The European ETF market ranks second in the world in terms of AUM, after the United States.
GX EU has positioned itself to capitalize on structural changes in the European investment landscape by focusing on the ETF savings plan market as a key growth engine. This segment, which enables automated, low-amount investments, has expanded rapidly through so-called neo banks, or fintech companies, and is projected to grow from about $275 billion in 2024 to $673 billion by 2028.
Having already listed its products on leading European neo bank platforms, GX EU aims to further strengthen its digital reach to retail investors by diversifying its sales channels and expanding its product lineup.
GX EU has also diversified its ETF portfolio, adapting commodity ETFs with a proven track record in the U.S. market into structures tailored for European investors.
In addition, it has rolled out Europe-centric thematic ETFs, including the European Infrastructure Development UCITS ETF (BRIJ LN), which targets infrastructure-related opportunities across the region, and the Europe Focused Defence Tech UCITS ETF (EDEF LN), designed to capture longer-term growth potential stemming from evolving geopolitical dynamics.
Gea Blumberg, co-CEO of Global X Europe / Courtesy of Mirae Asset Global Investments
GX EU is stepping up efforts to solidify its operational base as it seeks to extend its recent growth trajectory. The company has strengthened its leadership bench by appointing Gea Blumberg, formerly chief strategy officer at WisdomTree, as co-CEO, while also establishing a new sales office in Frankfurt, Germany, to deepen its presence in key European markets.
The co-CEO structure, jointly led by Blumberg and incumbent chief executive George Taylor, is expected to accelerate platform expansion and support further gains in regional market share.
“Europe’s ETF industry is entering a phase of sustained structural expansion. Global X Europe has secured a firm foothold in the market through retail-focused products and distribution strategies,” said Kim Young-hwan, head of innovation and global business at Mirae Asset Global Investments. “We will continue to invest in talent and local infrastructure to enhance competitiveness across the European ETF landscape.”