Mirae Asset Changes Name of Canadian ETF Subsidiary to 'Global X Canada'

Mirae Asset Global Investments announced on the 7th that starting from May, it will change the name of its Canadian exchange-traded fund (ETF) subsidiary, Horizons ETFs, to Global X Canada.

Horizons ETFs is the fourth-largest ETF manager in Canada, acquired by Mirae Asset Global Investments in 2011. At the time of acquisition, assets under management were approximately 3 billion Canadian dollars (2.2 billion USD), and have since grown about ninefold. As of the end of February, assets under management reached 32 billion Canadian dollars (23.3 billion USD), approximately 31 trillion KRW. The number of products increased from 70 to 119. Notably, despite the global economic downturn last year, assets under management increased by 7.6 billion Canadian dollars, surpassing 30 billion Canadian dollars.

Going forward, Horizons ETFs will operate as Global X Canada, offering a variety of innovative ETFs tailored for Canadian investors. Having led the Canadian market, a major global ETF market following the US and Europe, Global X Canada plans to leverage Mirae Asset’s global competitiveness to provide a wider range of investment opportunities. As of the end of February, Mirae Asset Global Investments manages 565 ETFs worldwide with total assets under management of 151 trillion KRW, which is larger than the entire domestic ETF market (134 trillion KRW).

Through this name change, Mirae Asset Global Investments expects to strengthen the brand value of Global X in the global ETF market and create synergies in its overseas business. Mirae Asset Global Investments, which has expanded into 16 regions worldwide including the US, Canada, and Hong Kong, is working to unify the ETF brands of its overseas subsidiaries under the Global X brand. Previously, the ETF brands in Hong Kong and Colombia were renamed Global X Hong Kong and Global X Colombia, respectively. Additionally, Mirae Asset’s Brazil subsidiary was rebranded as Global X Brazil, and Australia’s ETF Securities was renamed Global X Australia.

Rohit Mehta, CEO of Horizons ETFs, said, “Through this rebranding, we expect to expand our global influence and offer a wider variety of products to Canadian investors. We will strive to leverage the high expertise Horizons has built in the Canadian market along with enhanced global insights going forward.”

Hyunju Park, Chairman of Mirae Asset Group Global Strategy Office (GSO), stated, “Horizons ETFs, recognized as a ‘Permanent Innovator’ in the Canadian market, is now expected to thrive globally under the Global X brand. I am confident that through Mirae Asset’s global network and expert insights, we will capture diverse investment opportunities and blend them with local expertise to provide Canadian investors with an enhanced investment experience.”

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