Mirae Asset 'TIGER India Nifty 50' Surpasses 100 Billion KRW in Net Assets
Mirae Asset Global Investments announced on the 24th that the total net asset value of the 'TIGER India Nifty 50 ETF' has surpassed 100 billion KRW.
According to the Korea Exchange, the 'TIGER India Nifty 50 ETF,' which was listed in April, recorded a total net asset value of 104 billion KRW as of the closing price on the 23rd. Since its listing, the net purchase amount by individual investors reached 33.6 billion KRW, making it the most purchased India investment ETF by individual investors among domestically listed ETFs this year.
The 'TIGER India Nifty 50 ETF' is an ETF that invests in the 'Nifty 50 Index,' a representative index of India. This index includes the top 50 stocks listed on the National Stock Exchange (NSE) of India based on free-float market capitalization. Recently, as the United States has shown strong measures to counter China, emerging countries such as India are gaining attention as new economic hubs and production bases, leading to a rising trend in the Indian stock market. Accordingly, the buying momentum of domestic individual investors toward the Indian market is also interpreted to be strengthening.
In particular, the 'TIGER India Nifty 50 ETF' is the first physical ETF in Korea that directly holds Indian stocks. A physical ETF incorporates actual stocks into the ETF portfolio rather than using index swap contracts, which reduces fees. The total expense ratio of this ETF is 0.19%, the lowest among India investment ETFs listed domestically. Additionally, it can be invested in through pension accounts such as individual pensions and retirement pensions.
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Lee Doseon, manager of the ETF management division at Mirae Asset Global Investments, said, “India has shown steady growth, ranking 5th in the world in GDP last year, surpassing the United Kingdom,” and added, “Individual investors can access the Indian stock market, which is difficult to invest in directly, more conveniently and efficiently through the 'TIGER India Nifty 50 ETF.'”
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