Mirae Asset Global Investments is seeking to further solidify its presence in the overseas financial market by strengthening its global portfolio.
The South Korea-based asset management firm has made bold moves in recent years and left footprints both in advanced and developing markets. One example was its decision to acquire Global X, a US-based exchange-traded fund management fund, in 2018.
|The Mirae Asset Global Investments Tower, center, in Shanghai, China (Mirae Asset Global Investments)|
It also set up a joint venture with a Vietnamese state-run investment corporation and became the first Korean asset manager to independently operate private equity funds in China last year.
It has been active in the global market for more than a decade — since 2003, six years after its establishment, when it established a corporate body in Hong Kong.
Since 2008, its Hong Kong entity has made SICAV, an open-ended collective investment scheme, available in Luxembourg. This marks a first for a Korean asset management firm, as the financial investment method was largely limited to Western Europe before that time, especially Luxembourg, Switzerland, Italy, Spain, Belgium, Malta and France.
While many global asset management firms either retreated from the Indian market or downsized their presence following the 2008 financial crisis, Mirae Asset continued to foster relevant investments through its corporate body in Asia’s third-largest economy. Its Indian entity managed 4 trillion won ($357 million) in investment funds as of last year.
Cooperating with its corporate body in the US, established in 2008, Mirae currently runs a dual-management system in research and general operations. The firm prides itself in managing a round-the-clock monitoring system, which it believes sets it apart from its local colleagues.
By Jung Min-kyung (email@example.com)