Mirae Asset Global Investments announced on the 28th that the net assets of the 'TIGER India Nifty 50 ETF' have surpassed 200 billion KRW. The 'TIGER India Nifty 50 ETF' has become the ETF with the largest net assets among India investment ETFs listed domestically.
According to the Korea Exchange, as of the closing price on the 27th, the net assets of the ‘TIGER India Nifty 50 ETF’ stand at 211.4 billion KRW. This is the first time that an India investment ETF listed domestically has exceeded 200 billion KRW in net assets.
The ‘TIGER India Nifty 50 ETF’ invests in the representative Indian index, the ‘Nifty 50 Index.’ This index includes the top 50 stocks listed on the National Stock Exchange (NSE) of India based on free-float market capitalization. Recently, emerging countries like India have been gaining attention as new global economic hubs and production bases replacing China, leading to an upward trend in the Indian stock market.
As domestic investors’ interest in the Indian market continues to grow, the ‘TIGER India Nifty 50 ETF’ recorded a cumulative net purchase of 49.2 billion KRW by individual investors as of the 27th since its listing in April. This is the largest scale among India investment ETFs listed domestically during the period. In particular, since domestic investors face limitations in directly investing in the Indian market, demand for the domestically listed India investment ETF, ‘TIGER India Nifty 50 ETF,’ is increasing.
Mirae Asset Global Investments is holding a customer event to celebrate the ‘TIGER India Nifty 50 ETF’ surpassing 200 billion KRW in net assets and growing into the largest India investment ETF domestically. From today until January 12 next year, participants who answer quizzes on the TIGER ETF KakaoTalk event page will be entered into a draw to receive gifticons.
Kim Nam-gi, Vice President and Head of ETF Management at Mirae Asset Global Investments, said, “India currently accounts for less than 5% of the world’s GDP, but with its solid consumer market and benefits from global economic bloc formation, it is expected to emerge as a ‘BIG 3 country’ following the US and China.” He added, “Individual investors can conveniently invest in the Indian market, which is difficult to access directly, through the largest domestic ‘TIGER India Nifty 50 ETF.’”
Meanwhile, Mirae Asset Global Investments, which established a local corporation in Mumbai, India in 2006, has been recognized for its expertise in the Indian market, growing to become the 9th largest asset manager in India. Mirae Asset’s India corporation is the only independent foreign capital asset management company in India. As of the end of November, its assets under management (AUM) are approximately 24 trillion KRW.
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