Home > Business > Finance

Mirae Asset Global Investments becomes 12th-largest ETF manager in November

Published: 11 Dec. 2024, 18:51

KIM JU-YEON
[email protected]

Employees of exchange-traded fund (ETF) provider Global X, Mirae Asset Global Investments' U.S. unit, pose for a photo in New York. [MIRAE ASSET GLOBAL INVESTMENTS]

The exchange-traded fund (ETF) division of Mirae Asset Global Investments increased its assets under management (AUM) to 200 trillion won ($139.6 billion) in November to become the 12th-largest ETF manager worldwide by net asset value.

The firm had just 100 trillion won of AUM in 2021, Mirae Asset Global Investments said Wednesday.

It operates 624 ETFs in 13 countries including Korea, the United States, Canada, Australia and Japan. The number of ETFs rose from 415 in December 2021, while its total assets almost doubled from $89.2 billion in 2021 to the current $141 billion.

The financial company said its growth was on the back of localized expertise and innovation in global markets. Its U.S. subsidiary, Global X, has grown five times since being acquired by Mirae Asset Global Investments in 2018. Global X Canada became Canada’s fourth-largest ETF issuer and manager, with an emphasis on income-focused ETFs.

The firm said Monday that its European ETF division's AUM had exceeded $2 billion, four years after it entered the second-largest ETF market in late 2020.

Mirae Asset Global Investments also highlighted its efforts in the Indian market, which it entered 16 years ago. Its Indian business has topped 2 trillion won in net asset value, ranking ninth among competing firms. The branch averaged 61.1 percent growth over the past three years, more than double the 23 percent growth of India’s entire ETF market, according to ETFGI, a London-based independent ETF research and consulting firm. Mirae established in-house index entity Mirae Asset Global Indices to better create and calculate indices tp measure the performance of its assets.

The company plans to expand its consulting and strategies for investments in AI by acquiring financial planner Stockspot in Australia and establishing business unit Wealthspot in the United States.

“Mirae Asset Group continues to innovate for a competitive edge in the global market,” said Kim Young-hwan, head of Mirae Asset Global Investments’ innovation and global management division.

“The company will provide competitive investment solutions to investors through its global ETF platform so that they may safely prepare for retirement,” Kim said.

BY KIM JU-YEON [[email protected]]