Mirae Asset Hosts 'ETF Rally 2023'

Mirae Asset Global Employees Share ETF Business and Explore Development Directions

Mirae Asset Global Investments announced on the 25th that it held the ‘ETF Rally 2023’ from the 22nd to the 24th in Seoul and Hongcheon, Gangwon Province.

Mirae Asset Group’s Global Strategy Officer (GSO) Chairman Hyunju Park has actively pursued M&A to expand its global ETF business, starting with the Canadian ETF manager ‘Horizons ETFs’ in 2011, acquiring the U.S. firm ‘Global X’ in 2017, and the Australian ‘ETF Securities’ in 2022.

‘ETF Rally’ is an event where Mirae Asset Global Investments’ ETF employees from around the world gather to share the current status of the global ETF business and explore directions for development. As of the end of April, Mirae Asset Global Investments operates about 510 ETFs across 11 countries worldwide, including the U.S., Japan, Canada, Australia, and India. The total assets under management reach 121 trillion KRW.

At this ETF Rally, 70 participants including CEOs and CIOs of overseas subsidiaries introduced their country-specific ETF businesses and proposed ways to utilize the global network to strengthen Mirae Asset’s global ETF brand.

Global X CEO Luis Berruga highlighted the path Mirae Asset’s global ETF has taken. Since Mirae Asset’s acquisition of Global X in 2018, know-how in product development, research, and management has been shared, and Global X has grown into a leading thematic ETF provider in the U.S., which accounts for 70% of the global ETF market. The assets under management of Global X, which were 8 trillion KRW at the time of acquisition, increased to 51 trillion KRW as of the end of April.

There was also a session focusing on the rapidly growing Indian ETF market. Swarup Mohanty, CEO of the India subsidiary, analyzed the current and future state of ETFs in India, which has emerged as the world’s largest consumer market and a global supply chain hub. He shared the expertise of Mirae Asset Global Investments’ India subsidiary, the only independent foreign capital asset manager operating locally. Mirae Asset entered India over 10 years ago and has persevered through the financial crisis that forced all other foreign asset managers to withdraw, growing to become the 9th largest asset manager in India today.

In addition, in-depth discussions continued to enhance the brand value of Mirae Asset’s global ETFs and strengthen its unique competitiveness, including market analyses by local subsidiaries in Europe, Australia, Canada, and China, as well as panel discussions on creating global business synergies.

Kim Young-hwan, CEO of Mirae Asset Global Investments’ Global Management Division, said, “Through this event, ETF experts from 11 countries shared their expertise and discussed ideas to create synergy. As a global leading ETF manager, Mirae Asset will continue to nurture talent and share its vision to foster growth in the ETF business.”

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