Mirae Asset launches equity fund to bet on clean tech

South Korea‘s investment house Mirae Asset Global Investments said on Thursday it has launched a new equity fund to invest in domestic companies with clean technology prowess.

With the launch, Mirae Asset aims to ride on the green wave among financiers that is triggering a seismic shift across the industries.

Its portfolio will mainly comprise of Korean firms dedicated to solar, wind and hydroelectric power resources, waste management, electric vehicles, hydrogen cars, as well as smart grids and smart factories.

“Clean energy industries has entered into the next stage of growth,” said Ryu Kyeong-sik, head of wealth management & pension marketing business unit at Mirae Asset in a statement. “Clean technology is increasingly becoming economically feasible and garnering larger attention, and the fund is expected to become a good alternative to investors who set sights on the global trends affecting our daily lives.”

The open-ended stock fund will use Kospi as its benchmark index. The fund is currently sold through eight financial firms including its sister brokerage Mirae Asset Daewoo.

By Son Ji-hyoung (consnow@heraldcorp.com)