Mirae Asset Global Investments Surpasses 275 Trillion KRW in Domestic and International Assets Under Management

Mirae Asset Global Investments' aggressive global business moves are drawing attention.

According to the financial investment industry on the 11th, as of the end of April, Mirae Asset Global Investments recorded domestic and overseas assets under management (AUM) of 275 trillion won. Of this, 112 trillion won, about 40%, is managed overseas. Among domestic asset management companies, Mirae Asset is the only one actively conducting business overseas to this extent.

Finance is a field where overseas expansion is more difficult compared to other industries. When Mirae Asset first entered the global market in 2003 as the first domestic asset management company to do so, there was widespread negative sentiment in Korea that competing with global financial firms such as Goldman Sachs and Merrill Lynch was unrealistic.

Twenty years later, Mirae Asset Global Investments has transformed into a leading domestic global financial company managing 275 trillion won across 14 regions including the United States, Vietnam, Brazil, the United Arab Emirates, the United Kingdom, India, Japan, China, Canada, Colombia, Australia, Hong Kong, and Luxembourg.

Employees of 'Global X,' acquired by Mirae Asset Global Investments in 2018
[Photo by Mirae Asset Global Investments]

Mirae Asset's global business is led by exchange-traded funds (ETFs) active worldwide in places such as the United States, Canada, and Hong Kong. Mirae Asset operates over 500 global ETFs around the world. The total net assets reached 121 trillion won as of the end of April. This is larger than the entire domestic ETF market (95 trillion won).

Mirae Asset introduced the TIGER ETF for the first time in Korea in 2006. It also expanded investors' choices with various ETFs, including launching the ‘TIGER U.S. Nasdaq 100 ETF’?the first domestic ETF tracking the Nasdaq 100 index in the U.S.

Recently, it has been leading the innovative growth-themed ETF market, such as those related to Chat GPT. Moreover, it has driven the development of the ETF market by creating Korea’s first ETF using strip bonds and building the largest lineup of monthly dividend ETFs domestically.

In overseas markets, Mirae Asset has grown into a global ETF manager by acquiring promising ETF management firms. Under the leadership of Chairman Park Hyun-joo, it began with the Canadian ETF manager ‘Horizons ETFs’ in 2011, followed by the acquisition of the U.S. ‘Global X’ in 2018, and Australia’s ‘ETF Securities’ in 2022, actively pursuing M&A to expand its global ETF business. Notably, ‘ETF Securities’ is the first case where a domestic asset management company acquired an overseas ETF manager using profits earned from overseas operations. Mirae Asset has been recognized as a financial group expanding its global network through overseas subsidiary profits.

Recently, Mirae Asset has been focusing on enhancing the brand value of its global ETFs beyond merely expanding market size. At the end of last month, it held ‘ETF Rally 2023’ in Korea, where Mirae Asset global ETF executives gathered to discuss ways to create synergy effects in global business.

Based on its global business, Mirae Asset Global Investments became the first in the industry to achieve 3 trillion won in equity capital. Its consolidated net profit for the first quarter reached 106.1 billion won. Mirae Asset is the only asset management company to achieve net profits in the 100 billion won range. Lee Byung-sung, CEO of Mirae Asset Global Investments, said, "Since challenging the overseas market as the first domestic asset management company in 2003, we have continuously strived to become a global financial company representing Korea for 20 years. We will continue to discover quality assets worldwide and provide competitive financial products."