Mirae Asset Global Investments said its global exchange-traded fund (ETF) net assets have surpassed 425 trillion won, strengthening its position as the world's 11th-largest ETF manager.
According to Mirae Asset Global Investments on the 28th, as of the end of last month it operated a total of 769 ETFs with net assets of 425 trillion won across Korea, the United States, Canada, Australia, India and Japan. Based on data compiled by global ETF research firm ETFGI, Mirae Asset ranked 11th among global ETF managers and second in Asia after Nomura. Its growth also far outpaced the industry average. Over the past 10 years, global ETF managers posted an average annual growth rate of 21.7 percent, while Mirae Asset recorded 37.4 percent.
Growth at major overseas units also stood out. Global X US, its U.S. subsidiary, surpassed 100 billion dollars in net assets by rolling out innovative products. Its assets under management, which stood at about 8 trillion won when Mirae Asset acquired the firm in 2018, have expanded to about 150 trillion won. Its European unit (Global X EU) recorded an average annual growth rate of 223 percent over the past five years, and its Japanese unit (Global X Japan) surpassed 1 trillion yen in net assets just over six years after its launch. The Canadian and Australian units grew to 40 billion dollars and 13 billion dollars, respectively.
Net assets of TIGER ETF, its domestic ETF brand, also exceeded 100 billion dollars. Starting with the "TIGER Semiconductor" and "TIGER Bank" ETFs in 2006, Mirae Asset Global Investments has launched a variety of thematic and asset-allocation ETFs. The company said it has since led the "democratization of investment" through ETFs investing in various industries and asset classes.
"Based on a solid global network, we have secured diverse asset-allocation capabilities and investment tools," a Mirae Asset Global Investments official said. "We will continue to introduce competitive products that can bring innovation to the market, striving to contribute to investors' comfortable retirement."
