Mirae Asset Global X Surpasses $50 Billion in U.S. Local Assets Under Management

Mirae Asset Global Investments announced on the 9th that the total assets under management (AUM) of its U.S. ETF subsidiary Global X have surpassed $50 billion.

As of the 8th, Global X manages 93 ETFs in the U.S. The total AUM stands at $50.3 billion (approximately 69.6 trillion KRW), ranking it 13th among U.S.-based ETF managers.

Global X is a U.S. ETF manager acquired by Mirae Asset Group Chairman Park Hyun-joo (GSO) in 2018. At the time of acquisition, the AUM was around $10 billion, which grew to $20.9 billion by the end of 2020 and $42.5 billion by the end of 2023. This year alone, it increased by more than $7 billion in just over six months, surpassing $50 billion.

Founded in 2008, Global X has been recognized as an “innovative ETF leader” among U.S. investors by offering differentiated products from its early days. Its thematic products invest in innovation-leading companies such as those in artificial intelligence and infrastructure development, while its income products are represented by covered call strategies.

In particular, the “Global X Nasdaq 100 Covered Call (QYLD US)” is a leading U.S. covered call ETF with net assets of approximately $8.3 billion. The Global X covered call ETF series, including “QYLD,” consists of 16 ETFs with total net assets of $12.9 billion. The “Global X U.S. Infrastructure Development (PAVE US)” is a flagship thematic ETF investing in U.S. infrastructure-related materials, heavy equipment, construction, and digital infrastructure companies. It has grown steadily to about $7.3 billion in net assets amid consistent investor interest.

Earlier, in April, Global X appointed Ryan O’Connor as its new CEO, marking the start of the “Global X 2.0 era” aimed at becoming a “global top-tier ETF provider.” Celebrating the $50 billion milestone, CEO Ryan O’Connor said, “Global X has continuously introduced differentiated products to investors.” He added, “Based on our differentiated product lineup, we will invest without hesitation to achieve $100 billion or more in AUM,” and “We will actively target not only the U.S. but also global markets in cooperation with Mirae Asset Group and its affiliates.”

Kim Young-hwan, Head of Innovation and Global Management at Mirae Asset Global Investments, stated, “Mirae Asset Global Investments is achieving meaningful results globally beyond the U.S. based on a deep understanding of the global ETF market,” adding, “We will continue to strengthen the Global X brand value and strive to execute strategic business initiatives for new innovative growth.”

As of the end of June, Mirae Asset Global Investments’ total global ETF net assets amount to $127 billion (175 trillion KRW), exceeding the entire domestic ETF market size of 156 trillion KRW. The total AUM of Global X Australia has surpassed $5 billion. Both Global X EU and Mirae Asset Global Investments’ India subsidiary have also exceeded $1 billion, showing rapid growth. Global X Canada, newly launched from Horizons ETFs as Global X, leads changes in the Canadian ETF market with total AUM of $25 billion.