Mirae Asset Global Investments India celebrates 15th anniversay

Finance

Published: 18 Jan. 2023, 18:55

Mirae Asset Global Investments India celebrates 15th anniversay

Mirae Asset Financial Group Chairman Park Hyeon-joo, center, and officials from Mirae Asset Global Investments India hold a ceremony in Mumbai to mark its 15th anniversary of its overseas business operations in India. [MIRAE ASSET GLOBAL INVESTMENTS]

Mirae Asset Global Investments India marked the 15th anniversary of its operations in India, the company announced Wednesday.

Entering the Indian market by starting a fund in 2008, Mirae Asset Global Investments is the only asset management company there independently run by an overseas fund.

Most global asset management companies have withdrawn from the Indian market or converted into joint ventures since the financial crisis, while the Korean asset manager continued to put investments seeing India's growth potential.

Mirae Asset Global Investments India ranks ninth by assets under management in India.

As of the end of December 2022, Mirae Asset Global Investments India’s had 21 trillion won in consignment assets, up more than 100 times than 200 billion won at the time of its establishment.

Consignment assets have increased rapidly, rising to 21 trillion won two years after it crossed the 10 trillion won-mark in 2020.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]