Mirae Asset Global Investments’ European ETF Subsidiary GX EU Surpasses 8 Billion Dollars in Assets Under Management

New Co-CEO Appointment and Expansion of Local Presence
Strengthening the Retail-Focused Strategy

Mirae Asset Global Investments announced on the 10th that the assets under management (AUM) of its European ETF subsidiary, Global X Europe (hereinafter GX EU), have surpassed 8 billion dollars.

As of the end of last month, GX EU’s assets under management stood at 8.03 billion dollars (approximately 11.5 trillion won). This achievement comes about five years after its entry into the European ETF market. Over the past year alone, its AUM grew by 214.6%, marking the highest growth rate among European ETF managers with more than 1 billion dollars in AUM, and significantly outpacing the average growth rates of both the European and global ETF markets over the past three years. The European ETF market’s AUM is approximately 5,030 trillion won, making it the second-largest in the world after the United States (approximately 20,100 trillion won).

Global X EU, London Stock Exchange. Provided by Mirae Asset Global Investments

To sustain this growth momentum, GX EU has recently been accelerating efforts to strengthen its business foundation. It appointed Gea Blumberg, who previously served as Head of Strategy at global asset manager WisdomTree, as Co-CEO to bolster its management and strategic capabilities. In addition, it opened a sales office in Frankfurt, Germany, establishing a local sales structure focused on Europe’s core markets. With the new Co-CEO Blumberg joining existing Co-CEO George Taylor, the dual leadership structure is expected to accelerate the expansion of the business platform and the increase of market share in Europe.

At the inauguration ceremony, Co-CEO Blumberg said, “The organic growth that Global X Europe has achieved over the past three years demonstrates that our innovative product strategy is effectively meeting the needs of European investors,” adding, “I am very excited to be joining at this important juncture in our growth, and I will work closely with my fellow Co-CEO to expand Global X Europe’s market influence across Europe.”

GX EU’s growth has stemmed from a retail-focused strategy that has proactively captured structural changes in the market. In particular, it has targeted the ETF Savings Plan market as a core growth channel, concentrating on automatic savings and small-amount investment services that are spreading mainly through neobanks providing mobile-based financial services. The ETF Savings Plan market is projected to grow from about 275 billion dollars in 2024 to 673 billion dollars in 2028. GX EU has completed product launches on major European neobank platforms and plans to expand its digital touchpoints with retail investors by diversifying distribution channels and broadening its product lineup.

On the product side, GX EU is also building a differentiated ETF lineup. It has launched commodity ETFs that have been proven in the U.S. market in a UCITS structure tailored to European characteristics. It currently manages three commodity ETFs based on silver, copper, and uranium: Silver Miners UCITS ETF (SILV LN), Copper Miners UCITS ETF (COPX LN), and Uranium UCITS ETF (URNU LN). Recently, the Silver Miners UCITS ETF and the Copper Miners UCITS ETF each surpassed 2 billion dollars and 1 billion dollars in AUM, respectively.

GX EU is also offering European infrastructure investment opportunities through its Europe-focused thematic product, the European Infrastructure Development UCITS ETF (BRIJ LN), and is responding to mid- to long-term growth themes arising from changes in the geopolitical environment through the Europe Focused Defence Tech UCITS ETF (EDEF LN), which is themed around the defense industry and advanced defense technologies.

Kim Younghwan, Head of Global Innovation at Mirae Asset Global Investments, said, “Europe is the world’s second-largest ETF market and is entering a structural growth phase,” adding, “Global X Europe has successfully established itself in the market through products and distribution strategies centered on retail investors, and we will continue to strengthen our competitiveness in the European ETF market by recruiting key talent and expanding our local presence.”

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