Mirae funds gain popularity

Mirae Asset Global Investments Chairman Park Hyeon-joo, second from right, is applauded as he rings the New York Stock Exchange (NYSE) opening bell, Tuesday. Horizons ETF (Exchange Traded Fund) USA, the U.S. subsidiary of the Korean asset management company, listed Horizons Korea KOSPI 200 ETF on the NYSE on the same day, the first listing of the KOSPI 200-based ETF. / AP-Yonhap

By Yi Whan-woo

Mirae Asset Financial Group said Tuesday that its investment funds in consumer goods companies worldwide have gained popularity because of their decent returns. Some of them generate an annual average return of over 30 percent.

Mirae Asset’s Global Consumer Funds are divided by region: Global Great Consumer Equity Fund, China-India Equity Fund and Korea Consumer Equity Fund.

According to the asset management firm, as of Feb. 25, the annual returns on the Global Great Consumer Equity Fund, China-India Equity Fund and Korea Consumer Equity Fund hit 32.38 percent, 21.73 percent and 8.15 percent, respectively.

The firm also said the Great Consumer Fund introduced by its Hong Kong branch has an average return of 6.54 percent per year. The figure jumped to 25.56 percent for a two-year period, the company added.

The firm also runs various exchange traded funds (ETFs) such as the Tiger China Consumption Theme ETF and Tiger Consumer Goods ETF, which have also been highly profitable.

The company attributed the massive new inflow into its equity funds to their stable returns from diversified investments in emerging markets as well as developed nations.

“Consumption-themed investment has become a global trend as basic necessities such as food and other consumer goods such as clothes and automobiles have various potential for long-term growth,” it said.

The group was founded in 1997 in the wake of the Asian financial crisis, and is credited with creating the asset management industry within Korea.

Mirae Asset currently has a presence in Hong Kong (Global Headquarters), Australia, Brazil, Taiwan, India, United Kingdom, Canada, the U.S., China and Vietnam in addition to its home office in Korea.