Mirae Asset Changes Names of 7 TIGER ETFs
Mirae Asset Global Investments announced on the 29th that it will change the names of seven TIGER ETFs.
Following the name changes of five ’KRX BBIG K-New Deal Index’ series calculated by the Korea Exchange, Mirae Asset Global Investments will change the names of the TIGER ETFs tracking these indices starting from today.
The changes are as follows: ▲ ‘TIGER KRX BBIG K-New Deal’ → ‘TIGER BBIG’ ▲ ‘TIGER KRX 2nd Battery K-New Deal’ → ‘TIGER 2nd Battery TOP10’ ▲ ‘TIGER KRX Bio K-New Deal’ → ‘TIGER Bio TOP10’ ▲ ‘TIGER KRX Internet K-New Deal’ → ‘TIGER Internet TOP10’ ▲ ‘TIGER KRX Game K-New Deal’ → ‘TIGER Game TOP10’.
The names of two leveraged TIGER ETFs tracking the same indices will also be changed. ‘TIGER KRX BBIG K-New Deal Leverage’ will be renamed ‘TIGER BBIG Leverage’, and ‘TIGER KRX 2nd Battery K-New Deal Leverage’ will be renamed ‘TIGER 2nd Battery TOP10 Leverage’.
Mirae Asset Global Investments expects that this name change will allow investors to more easily and intuitively understand that these ETFs contain 10 representative stocks from industries such as 2nd battery, bio, internet, and gaming.
In addition to the name change from ‘TIGER KRX 2nd Battery K-New Deal Leverage’ to ‘TIGER 2nd Battery TOP10 Leverage’, the total expense ratio will be reduced from 0.59% to 0.29%. This is the lowest level among domestically listed 2nd battery leveraged ETFs.
To commemorate the name change and fee reduction, Mirae Asset Global Investments will hold an event for customers. From November 29 to December 8, participants who answer quizzes correctly through the event menu on the TIGER ETF website will be entered into a draw to receive gifticons.
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Sung Tae-kyung, Head of ETF Marketing Division at Mirae Asset Global Investments, said, “The newly rebranded TIGER BBIG ETF series focuses on investing in leading companies within Korea’s new growth industries such as 2nd battery, bio, internet, and gaming, where structural growth is expected.” He added, “Especially for the 2nd battery leveraged ETF, the fee reduction lowers the barrier to entry, which we expect will broaden the choices available to investors.”
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