Mirae Asset's 'TIGER India Nifty 50 Leverage ETF' Surpasses 50 Billion KRW in Net Assets

Mirae Asset Global Investments announced on the 13th that the 'TIGER India Nifty 50 Leverage Exchange-Traded Fund (ETF)' has surpassed 50 billion KRW in net assets.

According to the Korea Exchange, as of the closing price on the 8th of this month, the net assets of the 'TIGER India Nifty 50 Leverage ETF' stand at 55.4 billion KRW. This is the largest scale among leverage ETFs investing in India listed domestically.

The 'TIGER India Nifty 50 Leverage ETF' tracks twice the daily return of the 'Nifty 50 Index,' a representative index of India. The index, which includes the top 50 stocks by free-float market capitalization listed on the National Stock Exchange (NSE), contains large-cap stocks familiar to domestic investors such as Reliance Industries, HDFC Bank, and Infosys. The Nifty 50 Index rose approximately 20% over the course of 2023, driven by India's high economic growth rate and benefits from supply chain restructuring as the next China, serving as overall momentum for the stock market.

Reflecting such growth in the Indian stock market, the 'TIGER India Nifty 50 Leverage ETF,' which recorded a 36.02% return last year, continues its upward trend this year as well. As of the 8th, it posted a year-to-date return of 9.4%, ranking first among ETFs tracking the same index. It also shows a higher level compared to other emerging market investment products such as those in China and Mexico. With the International Monetary Fund (IMF) and S&P projecting that India will become the world's third-largest economy by 2030, following the United States and China, domestic investors' interest in the Indian market is expected to increase steadily.

Oh Min-seok, Head of the Global ETF Management Division at Mirae Asset Global Investments, said, "India is the country with the largest and youngest population in the world," adding, "With a solid consumer market, massive foreign investment, and government policies represented by Make in India, it has unlimited growth potential, recently surpassing Hong Kong to become the world's fourth-largest market." He continued, "'TIGER India Nifty 50 Leverage ETF' is the first and largest domestic product that allows leveraged investment in the long-term upward-trending Indian market."

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