Mirae Asset's US ETF Manager Global X Surpasses $40 Billion in Assets Under Management

[Asia Economy Reporter Minji Lee] Mirae Asset Global Investments announced on the 25th that the assets under management (AUM) of the U.S. ETF specialist firm ‘Global X’ have surpassed $40 billion.

According to Global X, as of the closing price on the 21st, the AUM reached $41.1 billion (approximately 48.32 trillion KRW), doubling from $20.9 billion at the end of last year. According to ETF.com, Global X ranked 12th among U.S. ETF managers this year, surpassing PIMCO, Fidelity, Goldman Sachs, and others.

Global X’s flagship ETF is the ‘Global X Lithium & Battery Tech ETF (LIT)’, launched in 2010. With net assets of $5.15 billion (approximately 6 trillion KRW), it is the largest among Global X ETFs. This ETF invests in the lithium mining, refining, battery manufacturing, and electric vehicle sectors within the secondary battery value chain. Secondary batteries have become more accessible due to technological advancements lowering production costs, and with the emphasis on eco-friendly policies, favorable policies and subsidies are expected to boost demand for electric vehicles. The underlying index is the ‘SOLACTIVE Global Lithium Index’. Mirae Asset Global Investments launched the ‘TIGER Global Lithium & Secondary Battery SOLACTIVE ETF’ tracking the same index in July this year.

The ETF with the largest increase in net assets this year is the ‘Global X US Infrastructure Development ETF (PAVE)’. Listed in 2017, this ETF has net assets of $4.64 billion (approximately 5.4 trillion KRW), increasing by $3.82 billion (approximately 4.5 trillion KRW) this year. The ETF invests in raw materials, heavy equipment, construction, and digital infrastructure companies related to U.S. infrastructure development. The Biden administration selected infrastructure investment as a stimulus measure against the COVID-19 economic downturn, and this ETF, expected to benefit from related policies, has seen significant capital inflows this year.

Global X, established in 2008 as an ETF specialist, launched its first ETF in 2009 and has been recognized as a rising star in the U.S. ETF market with its innovative products. Mirae Asset Global Investments acquired Global X in 2018. At the time of acquisition, Global X managed about 55 ETFs with $10.5 billion in assets; currently, it manages 92 ETFs with $41.1 billion, showing rapid growth.

Louis Veruga, CEO of Global X, said, “Global X has been able to lead the rapidly growing ETF industry by building a solid and differentiated platform,” adding, “We will help provide investors with new and innovative solutions based on Mirae Asset’s global network and investment professionals.”