BUSINESS

Mirae Asset Global seeks to build balanced global portfolio

By Jung Min-kyung
  • Published : Mar 20, 2019 - 16:07
  • Updated : Mar 20, 2019 - 17:23

Mirae Asset Global Investments is seeking to further solidify its presence in the overseas financial markets by strengthening its global portfolio.

The South Korea-based asset management company has made bold moves in recent years and left footprints both in advanced and developing markets. One example was its decision to acquire Global X, a US-based sponsor of exchange-traded funds, in 2018. 

The Mirae Asset Global Investments Tower, center, in Shanghai, China (Mirae Asset Global Investments)

It also set up a joint venture with a Vietnamese state-run investment corporation and became the first Korean asset manager to independently operate private equity funds in China last year.

It has been active in the global market for more than a decade since 2003, six years after its establishment, when it launched a corporate body in Hong Kong.

Since 2008, its Hong Kong entity has marketed SICAV, an open-ended collective investment scheme, available in Luxembourg. This marks a first for a Korean AMC, as the product was largely limited to Western Europe before that time, especially Luxembourg, Switzerland, Italy, Spain, Belgium, Malta and France.

While many global AMCs either retreated from the Indian market or downsized their presence following the 2008 financial crisis, Mirae Asset continued to foster relevant investments through its corporate body in Asia’s third-largest economy. Its Indian entity managed 4 trillion won ($357 million) in investment funds as of last year.

Cooperating with its corporate body in the US, Mirae currently runs a dual-management system in research and general operations. The firm prides itself in managing a round-the-clock monitoring system, which it believes sets it apart from its local colleagues. Its US entity was established in 2008. 

By Jung Min-kyung (mkjung@heraldcorp.com)



LEADERS CLUB