Global X ETFs, an exchange-traded fund provider fully owned by South Korea-based asset manager Mirae Asset Global Investments, is making inroads into European stock markets by adding new products to its lineup.
As of Monday, Global X was trading 12 ETFs in European stock markets. Among them, seven new themed ETFs started trading on the London Stock Exchange earlier in November.
The seven new products allow ETF buyers to get exposure to a wider range of sectors, targeting robotics, cybersecurity, clean technology, autonomous electric vehicles, e-commerce, financial technology and internet of things.
This comes nearly a year after Global X entered the European market by listing two ETFs in London, targeting digital health care and gaming.
“This latest launch is representative of the firm’s rapid European growth and we’re thrilled to be able to offer investors targeted exposure to companies around the world driving long-term, paradigm-shifting themes in the form of 12 total UCITS ETFs,” said Luis Berruga, CEO of Global X.
Global X’s growing presence in Europe, home to the second-largest ETF market after North America, has supported the company’s exponential growth over the past few years. According to London-based research and consultancy firm ETFGI, Europe was trading $1.6 trillion worth of ETFs, taking up over 15 percent of the global market share at the end of October.
Global X is now overseeing assets worth $43.6 billion, the 11th-largest among US peers. The asset size has risen fourfold since Mirae Asset acquired Global X in 2018, 10 years after Global X was founded in New York.
Global X’s parent Mirae Asset Financial Group has listed ETFs in five continents -- North America, Europe, Asia, South America and Australia.
By Son Ji-hyoung (email@example.com