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| The Nasdaq MarketSite promoting TIGER ETF, in New York's Times Square / Courtesy of Mirae Asset Global Investments |
By Yoon Ja-young
Amid turbulent global financial markets in the aftermath of the COVID-19 pandemic and key rate hikes, Mirae Asset Global Investments is leading exchange-traded funds (ETF)?with its TIGER ETF. Providing a diverse spectrum of products, it enables investors to pursue both growth and stability depending on the market surroundings.
According to the Korea Exchange, there are 155 TIGER ETFs as of Feb. 21. That sees Mirae Asset having the biggest number of ETFs in the country. The net asset value of TIGER ETFs now amounts to 34 trillion won ($25.9 billion), taking 38 percent of the local ETF market, as it satisfied investors by offering diversity in its ETF choices.
Since 2006 when it first launched TIGER ETF, Mirae Asset Global Investments has been leading the market in innovation- and growth-themed ETFs. This includes the launch of TIGER NASDAQ 100 which tracks the Nasdaq-100 index for the first time in the country. As an index that represents Silicon Valley, Nasdaq-100 represents global innovation including Microsoft, Google and Apple.
More recently, Mirae Asset has been launching ETFs representing new trends such as ChatGPT and leading technological innovations such as cloud services and electric vehicles. TIGER China Electric Vehicle Solactive, Tiger China Hang Seng Tech ETF, TIGER US Tech Top 10 INDXX, and TIGER US PHLX Semiconductor Sector Nasdaq ETF are among examples highly evaluated by investors for enabling betting on global innovative firms with high growth potential.
Mirae Asset also led a new trend in the market with ETFs of various interest rates. Its TIGER CD Rate Investment KIS Synth ETF was especially a big hit amid a steep hike of CD rates, with net asset value surpassing 5 trillion won in early February. It is the only ETF to attain that figure among ETFs that started on the Korea Exchange over the past 20 years. It recently launched TIGER Treasury 30Yr Strips Bond Active, satisfying the diverse needs of investors with the key rate hike cycle nearing an end.
TIGER ETF has also been a leading dividend ETF which has been popular among pensioners by offering cash payments each month. Mirae Asset is operating scores of monthly dividend ETFs, including TIGER Nasdaq-100 Covered Call, for investors focusing on cash flow.
While targeting local markets with TIGER ETF, Mirae Asset has been expanding its ETF business in global markets through synergy with its overseas subsidiaries such as Global X and Horizons ETFs. While the advance into overseas markets is a challenge, where nothing comes as a guarantee despite high costs, Mirae Asset Financial Group Chairman Park Hyun-joo encouraged the venture, saying it will build experience even if it fails.
Global X, which marks the fifth anniversary since being acquired by Mirae Asset Global Investments, has grown into a leader in the thematic growth ETF market in the U.S. Mirae Asset is engaged in ETF business in 11 countries as of the end of 2022, with total assets under management amounting to 103 trillion won which makes it the top 13th in the world in size.
"We have been making efforts to offer the full spectrum of products from which investors can choose the right one for each of the different market surroundings," a spokesperson for Mirae Asset Global Investments said. "By combining diverse TIGER ETFs, investors can set up their own portfolio that catches growth and stability as well as cash flow."
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