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Mirae Asset Financial Group

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Mirae Asset Global Investments
Company typePrivate company
IndustryFinancial services
Founded1997
HeadquartersSeoul, South Korea
ProductsMutual funds, Trading & Investing, Retirement & Planning
AUMUS $100.5 billion (Jun 2016)
Number of employees
650 Total; 150 Investment Professionals (Sep 2016)
Websitewww.miraeasset.com

Mirae Asset Financial Group is an independent financial services group in Asia, headquartered in Seoul, South Korea. While the group’s core business is asset management, it also provides comprehensive financial services in the areas of wealth management and life insurance. Mirae Asset was founded by Hyeon Joo Park in 1997 and introduced the very first mutual funds to Korean retail investors in 1998.

Mirae Asset Global Investments Group is the asset management arm of Mirae Asset Financial Group. It is one of the largest investors in emerging market equities.[1] With approximately 650 employees, including more than 150 dedicated investment professionals (as of 30 Sep 2016), Mirae Asset Global Investments Group has a presence in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam. The firm manages over US$100 billion in assets globally (as of 30 Sep 2016).[2]

Chairman

Hyeon Joo Park is the founder and Chairman of Mirae Asset Financial Group. He established the Group in 1997, amidst the Asian Financial Crisis and was the first to launch retail mutual funds in South Korea in 1998

Park earned a bachelor's degree in business administration from Korea University and attended the Advanced Management Program at Harvard Business School in 2002

Milestones [3]

2016

  • Mirae Asset acquires leading securities firm KDB Daewoo Securities, rebranded as Mirae Asset Daewoo[4]
  • Mirae Asset wins 2016 Asian Private Banker Asset Management Awards for Excellence “Best Fund Provider - Global Emerging Market Equity”[5]

2015

  • Mirae Asset completes development of Korea's first Four Seasons Hotel in downtown Seoul
  • Mirae Asset wins 2015 Lipper Fund Awards for Asia Pacific Equity, Asia Great Consumer, and Asia Funds in HK, Taiwan, and US[6]

2014

  • Mirae Asset launches Horizons Korea KOSPI 200 ETF, the lowest cost Korea ETF in the US market featuring the broadest Korean index exposure[7]

2013

  • Mirae Asset launches Horizons S&P 500 Covered Call ETF, Horizons’ first US-listed ETF
  • Mirae Asset launches CSI300 Enhanced Index Fund, the China JV’s first mutual fund

2012

  • Mirae Asset Global Investments becomes the largest fixed income fund manager in Korea[8]
  • Mirae Asset establishes Korea’s first joint venture asset management company in China - Mirae Asset Huachen Fund Management
  • Mirae Asset Global Investments merges with Mirae Asset MAPS Global Investments, its sister company specializing in alternative investments

2011

  • Mirae Asset Financial Group agreed to acquire 85% of Betapro Management Inc. BetaPro, together with its subsidiary Alphapro, manage the Horizons family of exchange traded funds, the largest ETF family in Canada with more than 70 ETFs listed on the Toronto Stock Exchange and C$3 billion (US$3.1 billion) in Assets under Management
  • Mirae Asset Global Investments acquires 60% of TLG Asset Management, a fund management subsidiary of Taiwan Life Insurance
  • Mirae Asset Private Equity, Fila Korea, National Pension Service of Korea and Korea Development Bank agree to buy Acushnet Company, owner of leading golf brands Titleist and FootJoy[9]
  • Mirae Asset launches iPhone application focused on “Emerging Markets”
  • Mirae Asset TIGER KOSPI 200 listed in HK

2010

  • Mirae Asset launches US-domiciled funds
  • Harvard Business School chooses Mirae Asset’s story and the entrepreneurship of Chairman Park Hyeon Joo for a case study

2009

  • Mirae Asset Global Investments signs an agreement to form an asset management joint venture in China

2008

  • Mirae Asset was recognized as the largest investor in emerging markets
  • Mirae Asset’s SICAV Luxembourg-domiciled funds were launched
  • Mirae Asset Global Investments (Brazil) was established
  • Mirae Asset Global Investments (USA) was established

2007

  • Mirae Asset Global Investments (UK) was established

2006

  • Mirae Asset Global Investments (India) was established

2005

  • Mirae Asset launches Korea’s first overseas investment (ex-Korea) fund Mirae Asset Retirement Pension Institute established

2004

  • Mirae Asset Investment Education & Research Center was established
  • Mirae Asset MAPS Global Investments was established through the acquisition of a local asset management company

2003

  • Mirae Asset Global Investments (HK), the first global operation based in Hong Kong, was established

2001

  • Selected as external manager of the National Pension Service (NPS) of Korea

1998

  • Korea’s first mutual investment fund was launched by Mirae Asset

1997

  • Mirae Asset Global Investments was established

Awards [10]

2016

  • Best Fund Provider – Emerging Market Equity for Mirae Asset Global Investments (Hong Kong) by Asian Private Banker Asset Management Awards for Excellence 2016
  • Citywire Singapore and Hong Kong Group Award: Equity- India by Citywire
  • Best International Fixed Income Manager (Korea) by Asian Investor
  • ETF Manager of the Year (Korea) by Asian Investor
  • Regional Asset Management Awards for Korea by Asian Investor
  • Best Fixed Income Manager (Korea) by Morningstar Korea

2015

  • Boutique Management Group of the Year by Investment Week Specialist Investment Awards 2015
  • Best Fund Provider – Emerging Market Equity by Asian Private Banker Asset Management Awards for Excellence 2014/2015
  • Best Fixed Income Manager (Korea) by Asian Investor
  • Best Fixed Income Manager (Korea) by Morningstar Korea
  • Manager of the Year (Korea) by Korea Economic Daily

2014

  • Best Fixed Income Manager (Korea) by Morningstar Korea
  • Triple A Awards, Best Asian ETF Provider (Korea) by The Asset
  • Best Fund House (MAGI India) by Business Today India
  • Best Fixed Income Manager (Korea) by Maeil Economic Daily
  • Best ETF Manager (Korea) by Asian Investor

2013

  • Mirae Asset Global Investments receives 2013 Korea Awards - Investment Performance, Best Manager of International Fixed Income from Asian Investor
  • Mirae Asset Global Investments receives 2013 Korea Awards - Investment Performance, Best Manager of Exchange-Traded Funds from Asian Investor

2011

  • Mirae Asset Global Investments receives 2011 Korea Awards – Investment Performance, Best (Onshore) Manager of International Equities from Asian Investor
  • Mirae Asset Global Investment receives 2010 Best of the Best Country Awards, Korea – Best Retail House from Asia Asset Management
  • Mirae Asset Global Investment receives 2010 Best of the Best Country Awards, Korea – Best House for Offshore Funds from Asia Asset Management

2010

  • Mirae Asset Global Investments receives the Asia Asset Management Best of the Best Awards 2009 under the category of Korea’s Best Retail House
  • Mirae Asset Global Investments receives the Asia Asset Management Best of the Best Awards 2009 under the category of Korea’s Best House for Offshore Funds

2009

  • Mirae Asset Chairman Hyeon Joo Park was the award recipient of the Ernst & Young Entrepreneur of the Year 2009 for Korea
  • Mirae Asset Global Investments receives the Asian Investor’s 2009 Investment Performance Awards under the category of Best in Emerging Market Equity
  • Mirae Asset Global Investments receives the Asian Investor’s 2009 Investment Performance Awards under the category of Best Korea Onshore Fund House
  • Mirae Asset Global Investments receives Asia Asset Management’s 2008 Best of the Best Awards, Korea under the Best Community Service Award category

2008

  • Mirae Asset Global Investments receives Asian Investor’s 2008 Investment Performance Award under the category of Korean Equities One-Year Performance

2007

  • Mirae Asset Global Investments receives 2007 Moneytoday & Morningstar Fund Grand Prize, Best Asset Management Company from Morningstar
  • Mirae Asset Global Investment receives 2007 Achievement Awards, Korea Fund House of the Year from Asian Investor
  • Mirae Asset Global Investment receives 2006 Best of the Best Awards, Korea Equity 3-Year from Asian Investor

2006

  • Mirae Asset Global Investment receives 2006 Achievement Awards, Korea Fund House of the Year from Asian Investor

Other businesses

Mirae Asset Securities

Mirae Asset Securities provide clients with a comprehensive suite of services including wealth management, investment banking, brokerage and M&A advisory.

Mirae Asset Life Insurance

Mirae Asset Life Insurance is a full-service life insurance company offering clients life insurance, investment-linked insurance, financial consulting and retirement planning services.

Mirae Asset Capital

Mirae Asset Capital provides financial consulting and corporate finance services. It invests in industries that drive the Korean economy, such as the internet, multimedia and biotechnology sectors.

Notes and references

  1. ^ One of the largest investors in emerging market equities amongst 68 asset management firms surveyed - IPE Survey: Managers of Emerging Market & Frontier Equities, Investment & Pensions Europe (IPE) November 2015
  2. ^ Mirae Asset About Us
  3. ^ Mirae Asset Milestones
  4. ^ Mirae Asset Buy $2 Billion Stake in Daewoo Securities
  5. ^ Asian Private Banker Asset Management Awards for Excellence 2016
  6. ^ Mirae Asset Funds Win 2015 Lipper Fund Awards
  7. ^ Horizons ETFs Management (USA) LLC Launches Horizons Korea KOSPI 200 ETF
  8. ^ Korea Financial Investment Association
  9. ^ Titleist and FootJoy parent Acushnet sold to Korean investors for $1.2 billion
  10. ^ Mirae Asset Awards

See also

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