Value of Mirae Asset’s Global ETFs Cross $139 Billion

South Korea’s Mirae Asset Global Investments has achieved a significant milestone, with its global exchange-traded funds (ETFs) surpassing $139 billion won in net asset value positioning the company as the 12^th largest ETF operator globally.

The journey of Mirae Asset, which has 624 ETFs operated across 13 regions worldwide, which include the US, Australia, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea and Vietnam, in the ETF market began in 2006 with the introduction of the TIGER ETF in Korea.

The company made a notable expansion into the global market in 2011 by listing an ETF on the Hong Kong Stock Exchange (HKX), becoming the first domestic asset manager to do so.

This move was part of a broader strategy led by its Chairman Park Hyun-joo who spearheaded the acquisition of overseas asset managers, including Canada’s Horizons ETFs (now Global X Canada) in 2011. His priority was to elevate the company’s standing on the global stage, accelerated by the acquisitions of ETF managers.

The company’s global ETF net assets exceeded $69 billion in 2021, and within three years, it has doubled that figure. This rapid growth is attributed to strategic acquisitions and a focus on innovation.

For instance, Mirae Asset acquired the United States’ Global X in 2018 and Australia’s ETF Securities in 2022. The assets under management of the US Global ETF operator in the local market.

In the Indian market, Mirae Asset’s ETF net assets have also surpassed the $1.39 billion mark, making it the 9^th largest operator in India. Recently, Mirae Asset Group acquired local brokerage Sharekhan, a top 10 securities firm in India, for around $3.5 million, further solidifying its presence in the region.

Data from ETFGI, an independent ETFs research and consultancy, showed the growth rate of Mirae Asset’s India branch averaged 61.1% over the past three years, more than double the 23% growth rate for the country’s entire ETF market.

Mirae Asset has established an in-house index entity, Mirae Asset Global Indices, in India and acquired Sharekhan. Also under its wing is European ETF liquidity provider Goldenberg Hehmeyer LLP, to foster a healthy ETF ecosystem.

Plans AI Investment Strategies

Mirae Asset plans to bolster artificial intelligence (AI) investment strategies and advisory services, buttressed by the acquisition of Australia’s robo-advisory service provider Stockspot and the establishment of AI financial strategy firm Wealthspot in the U.S.

Kim Young-hwan, head of innovation and global management at Mirae Asset Global Investments, emphasised the company’s commitment to innovation and competitiveness in the global market. “Mirae Asset Group continuously pursues innovation to strengthen its competitiveness in the global market. Through our global ETF platform, we will provide differentiated products and investment solutions to investors and assist in stable retirement preparation,” he said.

The success of Mirae Asset’s global ETF platform is a testament to the company’s strategic vision and execution. The firm’s ability to adapt to global financial markets, coupled with its innovative approach, has enabled it to achieve remarkable growth.

As the company continues to expand its global footprint, it aims to offer investors a diverse range of investment products and solutions, ensuring long-term stability and growth.