Mirae Asset India Subsidiary Surpasses Total Assets Under Management of 30 Trillion Won

Mirae Asset Global Investments announced on the 13th that its India subsidiary's total assets under management (AUM) have surpassed 30 trillion KRW.

As of the end of May, Mirae Asset Global Investments India operates a total of 58 funds, including 38 funds and 20 exchange-traded funds (ETFs). The total AUM stands at 30 trillion KRW, ranking 9th among local asset management companies in India.

The AUM of Mirae Asset Global Investments India has increased approximately threefold over the past five years. The AUM, which was 10.5 trillion KRW at the end of 2020, grew to 17.8 trillion KRW at the end of 2021, 20 trillion KRW at the end of 2022, and 25.8 trillion KRW at the end of 2023, surpassing 30 trillion KRW as of the end of May. During this period, the number of retail customers (accounts) increased from 2.8 million to 6.2 million.

Following equity funds, Mirae Asset Global Investments India recently introduced bond funds and hybrid funds that diversify investments across equities, bonds, and commodities, capturing the interest of local investors. From the beginning of the year to the end of May, inflows into bond and hybrid funds totaled 1.3 trillion KRW, which is three times the annual inflow amount for 2023.

ETFs have also shown significant growth, with total net assets reaching approximately 1.3 trillion KRW as of the end of May, surpassing 1 billion USD. Mirae Asset Global Investments India officially entered the Indian ETF market in 2018 by listing the ‘Mirae Asset Nifty 50 ETF’ and has gained attention by launching innovative products such as various thematic ETFs. This year, it plans to launch innovative thematic ETFs, including India’s first electric vehicle investment ETF and India’s first AI company investment ETF.

Additionally, Mirae Asset Global Investments India’s Dubai branch has rapidly grown, with AUM exceeding 400 billion KRW just two years after its opening. Mirae Asset Global Investments established the Dubai branch in 2022, becoming the first Korean asset management company to enter the Middle East region. Dubai is geographically close to India and has a population where approximately 40% are Indians, making it a region with high investment demand from local Indians.

Swarup Mohanty, Vice Chairman and CEO of Mirae Asset Global Investments India, said, “The rising Indian stock market has rapidly increased the number of individual investors, and in response, we are launching products that demonstrate Mirae Asset’s unique competitiveness while meeting investors’ needs. Mirae Asset Group, active locally in India, will continue to create synergy and strive to sustain innovative growth in the Indian market.”

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