Mirae Asset Global Investments' Canadian subsidiary breaks CAD 30B in AUM

An electronic board celebrates Horizons ETFs for reaching 30 billion Canadian dollars in assets under management. [MIRAE Asset Global Investment]

Assets managed by Mirae Asset Global Investments' Canadian subsidiary surpassed 30 billion Canadian dollars ($22.4 billion) to become the fourth largest asset management operator in the country, said Mirae on Thursday.

Horizons ETFs, which offers exchange-traded funds (ETFs), was acquired by Mirae in November 2011.

Mirae said Horizons ETFs' assets under management have jumped ninefold since it was acquired.

Canada's ETF market stood at $296 billion in November last year. Some 1,100 ETFs are traded in the country.

Mirae Asset Global Investments is Korea's second-largest ETF operator after Samsung Asset Management.

BY JIN MIN-JI [jin.minji@joongang.co.kr]