Mirae Asset's 'TIGER Joseon TOP10 ETF' Individual Cumulative Net Purchase Surpasses 20 Billion KRW

Mirae Asset Global Investments announced on the 10th that the cumulative net purchase amount by individuals for the ‘TIGER JoseonTOP10 ETF’ has surpassed 20 billion KRW.

According to the Korea Exchange, as of the closing price on the 9th, the cumulative net purchase by individuals for the ‘TIGER JoseonTOP10 ETF’ stands at 20.4 billion KRW. This comes just about 50 days after its new listing on October 22. Individual net purchases increased rapidly after last month when then U.S. President-elect Donald Trump stated that "the U.S. shipbuilding industry needs help and cooperation from Korea."

The ‘TIGER JoseonTOP10 ETF’ is an ETF that selects and invests in the top 10 domestic shipbuilding stocks related to ship construction. It particularly focuses investments on domestic shipbuilding stocks such as HD Hyundai Heavy Industries, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries, and Hanwha Ocean. As of the 9th, the total investment weight of these four stocks is 86.1%, the highest level among domestic ETFs. Unlike existing shipbuilding ETFs, it excludes industries classified as shipbuilding-related backward and forward industries such as ship after-service and shipping, or industries categorized under heavy industry sectors other than shipbuilding, and composes a 100% portfolio solely of shipbuilding and shipbuilding equipment.

Despite concerns about an economic downturn recently, positive outlooks continue for the domestic shipbuilding industry. Since its listing, the ‘TIGER JoseonTOP10 ETF’ has posted a return of 0.8% as of the 9th, significantly outperforming the KOSPI 200 index return of -8.3% during the same period.

Shin Seung-woo, Manager of ETF Operations Division 1 at Mirae Asset Global Investments, said, "Even with increasing economic uncertainties next year, we expect shipbuilding industry performance to continue smoothly," adding, "Through the TIGER JoseonTOP10 ETF, investors can effectively invest in large domestic shipbuilding stocks expected to cooperate with the U.S."