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Global X launches actively-managed emerging markets bond ETF

(Mirae Asset Global Investments)
(Mirae Asset Global Investments)
New York-based provider of exchange-traded funds Global X ETFs has launched an emerging markets bond ETF in its first actively managed strategy, its parent Mirae Asset Global Investments said Thursday.

The product, dubbed Global X Emerging Markets Bond ETF, is listed on the New York Stock Exchange. It will target US dollar-denominated securities including fixed-rate and floating-rate debt instruments issued by sovereign, quasi-sovereign, and corporate entities from emerging market countries. The fund will use JP Morgan EMBI Global Core Index as the underlying benchmark.

Global X Emerging Markets Bond ETF will capitalize on the expertise of Seoul-based Mirae Asset’s portfolio managers: head of global fixed income management Heo Joon-hyuk and portfolio manager Ethan Yoon. The managers are supported by 20 professionals around the globe from Mirae Asset’s investment, global macroeconomic strategy and emerging markets research teams.

“With this new launch, we are seeking to combine the expertise of seasoned emerging market investors with the efficiency, transparency, and tradability of an ETF,” said Luis Berruga, CEO of Global X ETFs, in a statement.

Mirae Asset Global Investments acquired 100 percent stake in the US ETF provider for $488 million in July 2018. Global X set up a joint venture in Japan with Tokyo-based Daiwa Securities Group and Daiwa Asset Management in September 2019.

Mirae Asset has been overseeing some 370 ETFs across eight countries including US, Canada, Australia and Korea, valued at a combined 40 trillion won ($32.85 billion).

By Son Ji-hyoung (