Mirae to acquire Canadian ETF company

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Mirae to acquire Canadian ETF company

Mirae Asset Financial Group said yesterday it has wrapped up its acquisition of a leading Canadian exchange-traded fund (ETF) company in a move to strengthen its global network.

Under the 143 billion won ($127 million) deal, Mirae holds a controlling 85 percent stake in Horizon Exchange Traded Funds, the financial group said in a statement. Horizon ETFs, which owns subsidiaries in Australia and Canada, manages 77 ETFs and holds assets worth around 3.62 trillion won.

With the acquisition, Mirae is set to manage nearly 5 trillion won worth of global ETFs and operate eight overseas subsidiaries, according to the company.


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