Mirae Asset's 'Indo Jungsohyeong Focus Fund' Surpasses 300 Billion KRW in Net Assets

Mirae Asset Global Investments announced on the 26th that the ‘Mirae Asset India Small and Mid-Cap Focus Fund’ has surpassed 300 billion KRW in net assets.

According to fund rating agency KG Zeroin, as of the closing price on the 25th, the net assets of the ‘Mirae Asset India Small and Mid-Cap Focus Fund’ stand at 304.3 billion KRW. This is the largest scale among India investment funds established domestically.

The ‘Mirae Asset India Small and Mid-Cap Focus Fund’ concentrates its investments on undervalued small and mid-cap stocks in India, which is rapidly emerging. While these companies have relatively lower recognition compared to large-cap stocks, the fund seeks to discover blue-chip companies with future growth potential and aims for excess returns compared to the market. India’s large domestic market, compared to other emerging countries, is expected to benefit small and mid-cap stocks related to infrastructure such as industrial and consumer goods from economic growth.

The main holdings include companies listed on the India Stock Exchange, excluding the top 100 companies by market capitalization, focusing on small and mid-cap companies with high growth potential. Included are Federal Bank Ltd, Bharat Forge Ltd, Shriram Finance Ltd, Power Finance Corp Ltd owned by the Indian government’s Ministry of Power, and Ceat Ltd, an Indian tire manufacturer.

The ‘Mirae Asset India Small and Mid-Cap Focus Fund’ is managed based on the same strategy as the flagship product of Mirae Asset Global Investments’ India branch, the 'Mirae Asset Emerging Bluechip Fund.' The ‘Mirae Asset Emerging Bluechip Fund’ has net assets of 5 trillion KRW and has attracted significant interest from local Indian investors since its inception in 2010.

To discover quality small and mid-cap stocks in India, Mirae Asset leverages the research and management capabilities of its local branch. After establishing its office in Mumbai in 2006 and launching its first fund in 2008, Mirae Asset Global Investments has grown to become the 9th largest asset manager locally in India within 15 years. Currently, Mirae Asset Global Investments’ India branch is the only independent foreign capital asset manager in India, with assets under management (AUM) reaching 23 trillion KRW as of the end of August.

In addition to the ‘Mirae Asset India Small and Mid-Cap Focus Fund,’ Mirae Asset Global Investments offers a diverse lineup of India investment products. These include the country’s first India bond investment fund, the ‘Mirae Asset India Bond Fund,’ as well as the ‘TIGER India Nifty50 ETF’ and the ‘TIGER India Nifty50 Leverage (Synthetic) ETF,’ which track India’s representative index, the Nifty50.

Ryu Kyung-sik, Head of WM Pension Marketing Division at Mirae Asset Global Investments, stated, “Since its inception in September 2015, the Mirae Asset India Small and Mid-Cap Focus Fund has demonstrated excellent performance, proving the long-term potential of the Indian economy. We will continue to strive to introduce products that can benefit from India’s economic growth, which is gaining prominence in the global market, for domestic investors.”

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