Mirae Asset expands clout in global ETF market

Mirae Asset Global Investment’s exchange-traded fund business has been increasing its dominance in the global financial market, the company said Monday.

The ETF business, currently managing over 15 trillion won ($13.4 billion), can be divided into three brands: Horizons (US, Canada, Hong Kong, and Columbia), Tiger (Korea), and BetaShares (Australia). 

Both the firm’s net assets and number of listed ETFs have doubled over the past six years since Mirae Asset has extended the business overseas.

In particular, Mirae Asset Horizon and BetaShares have gained much attention due to their high dividend rates and product competitiveness, according to the company.

As of last December, Mirae Asset Horizon ETF has seen a yearly net inflow of approximately 2.8 trillion won. It has also ranked 16th among other competitive global ETF management companies.

While the Horizons Hang Seng High Dividend Yield ETF has been recording a high average dividend rate of 5.4 percent steadily for the past 5 years, the BetaShares Australian Dividend Harvester ETF created a new record of 12.41 percent last year.

The ETFs in the American market that pursue income revenues through covered calls on America’s core stock portfolios, S&P500 and Nasdaq, have also shown 3.24 percent and 9.32 percent of dividend rates, respectively.

“We are planning to introduce more of Mirae Asset Global ETF’s to domestic investors as an asset allocation solution in the low interest, low growth era,” said the head of Mirae Asset Global Investment Global ETF business Lee Tae-yong.

By Yim Ji-min (jiminy@heraldcorp.com)