Mirae Asset Global Investments, an asset management unit under Mirae Asset Global Investments Group, said its four exchange-traded funds have shown their competitive edge against other ETF products on the Hong Kong Exchange.
Mirae Asset’s four leverage and inverse ETFs, or L&I ETFs, that traces Hang Seng index comprised of H-shares on the Hong Kong Exchange, ranked second in terms of the market share in L&I ETFs’ accumulated turnover as of April 19 since their listing on the Hong Kong bourse on March 14, according to the South Korean company.
In Hong Kong, five asset management firms have their L&I ETFs on the bourse.
The top spot went to Hong Kong’s CSOP Asset Management with a market share of 45.9 percent. Chinese asset management firm China AMC came in third with 23.4 percent, followed by Korea’s Samsung Asset Management with 3.1 percent
While investment yields of L&I ETFs are almost similar among the five asset management firms, Mirae Asset’s ranking second in accumulated turnover signals that the firm is appealing to investors in Hong Kong in terms of brand recognition, company officials said.
Mirae Asset has been expanding EFTs in Hong Kong since it became the first Korean asset management firm in 2011 to list Kospi 200 ETF on the Hong Kong Exchange. The firm currently runs a total of 16 ETFs in Hong Kong.
By Kim Yoon-mi (email@example.com)