Mirae Asset Global Investments has reached a significant milestone with its assets under management (AUM) exceeding 330 trillion won (US$241.76 billion). This achievement comes after 21 years of strategic international expansion, positioning the company as a major global player in the investment industry. As of the end of March, 40% of Mirae Asset’s total AUM, amounting to 140 trillion won, is managed overseas across 16 countries, including the United States, Vietnam, and Brazil.
The company’s success is largely driven by its robust presence in the exchange-traded fund (ETF) market, particularly through its U.S. subsidiary, Global X. Acquired in 2018 for US$488 million, Global X has been pivotal in Mirae Asset’s strategy to penetrate the U.S. ETF market, which commands over 70% of the global ETF market. In a further expansion move, Mirae Asset and Global X acquired Australia’s ETF Securities in June 2022, marking a milestone as the first instance of a Korean asset manager using overseas profits for a foreign acquisition.
To bolster its global brand, Mirae Asset has been integrating the Global X brand across various countries, enhancing its competitiveness in the ETF market. In India, often seen as the “Next China” for investment opportunities, Mirae Asset’s subsidiary transitioned to a management holding company structure in 2019, expanding its scope to include non-banking financial companies and venture capital activities. By the end of 2022, the subsidiary managed 21 trillion won in assets, highlighting its rapid growth and strategic foresight in the wealth management sector.
