Mirae Asset Global Investments said Monday its exchange-traded fund assets under management have surpassed 300 trillion won ($209.2 billion), tripling in size in just four years.
As of Friday, ETF assets under management by the firm totaled 302.8 trillion won across multiple markets including South Korea, the United States, Canada, Australia and Japan. The figure exceeds the size of Korea’s entire domestic ETF market, which stands at 294 trillion won, and ranks Mirae Asset 12th among global ETF managers.
The firm first crossed the 100-trillion-won mark in 2021. Over the past decade, its ETF business has posted an average annual growth rate of 38.8 percent, outpacing the global ETF market’s growth rate of 20.8 percent over the same period.
Mirae Asset initially entered overseas ETF markets in 2011 by listing products on the Hong Kong Stock Exchange, becoming the first Korean asset manager to expand abroad.
Under founder Park Hyun-joo, the firm has expanded its business through acquisitions, including Horizons ETFs in Canada in 2011, Global X in the US in 2018 and ETF Securities in Australia in 2022. The firm now offers 715 ETF products across 13 regions.
ETF assets at its US unit have grown roughly 14-fold, from 8 trillion won at the time of acquisition to 113 trillion won. The Canadian business expanded from 4 trillion won to 52 trillion won, solidifying the firm’s footprint in North America.
In Australia, Mirae Asset became the first Korean asset manager to acquire a foreign ETF operator using overseas earnings, later unifying its global ETF operations under the Global X brand. Assets at the Australian unit have more than tripled, rising from 4 trillion won to 15 trillion won.
In Europe, the world’s second-largest ETF market, the firm’s assets under management have exceeded 8 trillion won, growing at an average annual rate of 227 percent over the past five years. Its Japanese ETF unit has also recently surpassed 6 trillion won.
In Korea, Mirae Asset’s Tiger ETFs are nearing 100 trillion won in assets. Individual investors held 37.7 trillion won in Tiger ETFs as of the end of November, accounting for about 40 percent of individual ETF holdings. The firm said it has maintained the largest share of individual investors since November 2021.
“Mirae Asset has strengthened its ETF competitiveness by combining local expertise with innovation in each region,” said Kim Young-hwan, head of global management at Mirae Asset Global Investments.
“We will continue to enhance our global ETF platform to support investors in building long-term assets and preparing for a stable retirement.”
andreahaneu@heraldcorp.com
