Mirae Asset Global Investments announced Wednesday that its "TIGER Dividend Covered Call Active ETF" has surpassed 1 trillion won in net assets.
According to Korea Exchange, the ETF's net assets stood at 1.0153 trillion won ($710 million) as of the previous day's closing price. The fund, which started the year at around 240 billion won, has expanded more than fourfold in less than four months. As the only active covered call ETF investing in domestic Korean stocks, the product has seen increased investor demand amid the recent heightened market volatility, analysts said.
Based on its operating performance in the second half of last year, the fund has been paying special distributions of up to 2% monthly in the first half of this year, with last month's monthly distribution rate reaching 2.05%. The ETF continues to provide predictable distributions based on active management performance. The company explained that investors can secure stable cash flow and construct a twice-monthly dividend portfolio by complementarily utilizing covered call products that distribute on the 15th of each month.
Mirae Asset Global Investments is preparing to list the "TIGER Semiconductor TOP10 Covered Call Active ETF" on the 21st of this month. The new fund will invest in a concentrated semiconductor portfolio similar to the "TIGER Semiconductor TOP10 ETF" while employing a strategy of flexibly selling options depending on market conditions, similar to the "TIGER Dividend Covered Call Active" fund. This ETF is also scheduled to make monthly distributions on the 15th.
"The TIGER Dividend Covered Call Active ETF is a product that can consider both stability and profitability through active management even in volatile markets," said Chung Eui-hyun, Head of ETF Management at Mirae Asset Global Investments. "In the first half of this year, we are paying distributions of up to 2% monthly and providing investors with continuous cash flow through regular distributions."