Mirae Asset's 'Global X' Surpasses $30 Billion in Assets Under Management

3x Growth in Assets Under Management Three Years After Acquisition

[Asia Economy Reporter Minji Lee] Mirae Asset Global Investments announced on the 23rd that the assets under management (AUM) of the U.S. ETF manager ‘Global X’ have exceeded $30 billion. Since Mirae Asset’s acquisition in 2018, the AUM has tripled from $10 billion to $30 billion in just three years.

‘Global X’ is an ETF specialist firm established in the U.S. in 2008 and was acquired by Mirae Asset in 2018. Based on the catchphrase “Beyond Ordinary ETFs,” it has secured an innovative and differentiated product lineup, gaining attention as a rising star in the U.S. ETF market. The AUM, which was $10 billion at the time of acquisition, increased by about $10 billion this year alone, reaching a total of $30.8 billion (approximately KRW 34.2 trillion) as of the 19th. The total number of ETFs managed is 81.

The largest ETF managed by ‘Global X’ is the ‘Global X Lithium & Battery Tech ETF (LIT).’ It has an AUM of $3.1 billion (approximately KRW 3.43 trillion) and was listed in July 2010. The ETF invests in companies involved in lithium mining and refining, battery manufacturing, and electric vehicles. Due to the emphasis on eco-friendliness and government policy implementation, demand for electric vehicles is expected to expand, attracting strong investor interest. Since inception, it has shown a cumulative return of 117.55% and an annualized return of 7.54% as of the end of March.

The ETF that attracted the most funds this year is the ‘Global X U.S. Infrastructure Development ETF (PAVE),’ which increased by $1.2 billion (approximately KRW 1.36 trillion). This ETF invests in U.S. infrastructure-related companies and gained attention after U.S. President Biden announced a $3 trillion infrastructure investment stimulus plan at the end of March. Since its inception in March 2017, it has shown a cumulative return of 70.85% and an annualized return of 14.08% as of the end of March.

Luis Berruga, CEO of ‘Global X,’ said, “Global X has grown into a global brand used by over one million customers in 95 countries,” adding, “Global X, which aims to go beyond ordinary ETFs, has achieved rapid growth by meeting Mirae Asset, which pursues innovation. We will continue to strive to provide innovative products that investors need.”

This year marks the 10th anniversary of Mirae Asset’s entry into the global ETF market. In 2011, Mirae Asset became the first domestic asset manager to list an ETF on the Hong Kong Stock Exchange and entered the global ETF market by acquiring Canada’s ‘Horizons ETFs’ the same year. In 2013, it became the first Asian asset manager to list an ETF in the Latin American region. In 2018, it acquired ‘Global X,’ and in 2019, it established the local joint venture ‘Global X Japan’ in Japan. It also became the first foreign asset manager to list an ETF on the Ho Chi Minh Stock Exchange in Vietnam. As of the end of March 2020, Mirae Asset manages 325 ETFs worth KRW 66.45 trillion across 10 countries, including Korea, Canada, and the U.S.

This content was produced with the assistance of AI translation services.