Mirae Asset’s Global ETF Business Surpasses $100 Billion AUM
Mirae Asset Global Investments (Mirae Asset), a leading global investment manager, has announced that its exchange traded fund (ETF) business has surpassed US$100 billion1 ($147 billion) in assets under management (AUM). This significant milestone reflects sustained demand for Mirae Asset’s innovative ETF products across the Americas, in Europe, Asia and Australia.
Over the past five years, Mirae Asset’s ETF business has undergone extraordinary growth, witnessing a 350% surge in AUM2. This success can be attributed to the continued diversification of its product strategy and the growing recognition of its four ETF brands: Global X ETFs, TIGER, Horizons ETFs, and Mirae Asset.
With an impetus on high-quality investment solutions that adapt to global investors’ needs, Mirae Asset has now established itself as the 13th largest ETF provider globally and has surpassed the entire Korean ETF market in terms of AUM size ($82.55 bn).3
“We are extremely proud of the global team we have built and remain committed to expanding the capabilities of our investment platform,” said Hyeon-Joo Park, Global Strategic Officer at Mirae Asset.
“Our global ETF franchise will serve as a strong foothold as we leverage our synergies across markets and offer investors unequalled exposure to disruptive themes, access to international markets, and tools that help them achieve their investment objectives,” he said.
Since launching its first ETF in Korea in 2006, the TIGER ETF, Mirae Asset has expanded in core markets by acquiring key ETF providers; it now offers over 530 ETFs across a broad spectrum of asset classes, thematic and geographic areas.
Global X ETFs CEO Evan Metcalf welcomed the milestone and predicted that Global X’s expansion in Australia would mirror its success in offshore markets. “Investors can access key investment themes on the ASX through Global X ETFs, which now total 33. We offer Australians the opportunity to invest in disruptive technology, decarbonisation, commodities, artificial intelligence, and much more, to build their wealth now and well into the future,” he said.
“With the local exchange traded product (ETP) industry striking a record size of $146 billion in June 2023,4 we expect ongoing strength in the local ETF market and a greater uptake of Global X ETFs to help rapidly expand our local presence,” Metcalf said.
With the global ETF AUM expected to grow to US$15 trillion in 2027, Mirae Asset plans to strengthen and differentiate its innovative ETF business to meet investors’ needs.
“We leverage our extensive global network to conduct exhaustive analyses of local markets and offer pioneering products distinguished by their thematic and income-oriented focus, instead of solely relying on market index offerings,” said Young Kim, the Head of the Global Business Unit at Mirae Asset. “Moving forward, we remain dedicated to introducing competitive products that cater to the discerning needs of our valued investors.”
In addition to its strategic acquisitions, Mirae Asset has cultivated organic growth and maintains a
robust foothold in well-established markets like Brazil, Colombia, Europe, India, Korea, Vietnam, Hong Kong and Japan, where it formed a joint venture with Daiwa Securities in 2019.
About Mirae Asset Global Investments Group
In 2011, Mirae Asset made its first international acquisition by purchasing Horizons ETFs, a prominent ETF provider in Canada. Seven years later, in 2018, Mirae Asset expanded its ETF portfolio with the acquisition of Global X ETFs, a specialist in thematic and income strategies. Since being acquired, both brands have significantly contributed to the growth of Mirae Asset’s global ETF AUM, with both brands experiencing remarkable growth. Building on these successes, Mirae Asset further broadened its global footprint by acquiring Australian-based ETF Securities in 2022.
Mirae Asset Global Investments Group (the “Group”) is an asset management organisation with over US$214 billion in assets under management as of June 30, 2023. The organisation provides a diverse range of investment products including mutual funds, ETFs, and alternatives. With 20 offices worldwide, the group has a global team of more than 1,000 employees, including more than 300 investment professionals.5
The Group’s global ETF platform features a line-up of 530 ETFs that offer investors high-quality and cost-efficient exposure to newly emerging investment themes and disruptive technologies in the global markets. As of June 30, 2023, the group’s ETFs had a combined assets under management of US$97 billion and are listed in Australia, Brazil, Canada, Colombia, Hong Kong, India, Japan, Korea, Vietnam, the United Kingdom, and the United States.