Mirae Asset Group founder and Chairman Park Hyeon-joo has identified exchange-traded funds, artificial intelligence and the private equity market as core business areas that will enable the company's asset management unit to take a leap forward in the Indian market.
“Mirae Asset will proactively introduce a range of innovative ETFs and further expand market accessibility by utilizing the extensive network of Sharekhan, one of the largest securities firms in India,” he said during a seminar held by Mirae Asset Global Investments in Mumbai on Friday.
This week, Mirae Asset Securities marked 100 days since its acquisition of Indian brokerage house Sharekhan Limited, holding a series of events to reaffirm its commitment to strengthening its role in the Indian financial services sector.
Under the theme “New AGE: The Future Ahead,” the gathering reviewed the growth of ETF products that the Korean asset manager has introduced to the Indian market and discussed future strategies.
Park also stressed the importance of introducing products that utilize AI technology tailored to market needs, saying, “We will create new investment opportunities through the development of AI-based ETF products. … We will grow India into an AI innovation hub through collaboration with Mirae Asset Global affiliates.”
Mirae Asset Global Investments also plans to expand investments in innovative startups to support the growth of the venture capital market. The Indian unit of Mirae Asset Global Investments has identified and invested in cutting-edge technology companies such as fintech firms Raise Financial Services and KreditBee, and India's largest food delivery platform, Zomato. Its total operating scale as of the end of 2024 was approximately $590 million.
As of the end of 2024, the Indian arm of Mirae Asset Global Investments held total assets under management worth $23 billion (34 trillion won), ranking it ninth among asset management companies in India.
hnpark@heraldcorp.com
