Mirae Asset shines in US ETF market

It has been five years since Mirae Asset Global Investments acquired Global X, its subsidiary managing ETFs in the U.S. Global X, which is a rising star in the U.S. market, has grown into a leader in the thematic growth ETF market, operating assets around six times bigger compared to when it was acquired by Mirae Asset.

In February 2018, Mirae Asset Global Investments acquired Global X for $488 million (520 billion won). The aim was to expand Mirae Asset's global ETF network by challenging the U.S. market, which takes up more than 70 percent of the global ETF market.

Mirae Asset Global Investments focused especially on the growth potential of Global X at the time of the acquisition. It determined that Global X, equipped with an innovative and differentiated product lineup under the catchphrase "Beyond Ordinary ETFs," had enough momentum for growth.

"We decided to invest in Global X as it is a company with a competitive edge, just like Mirae Asset 15 years ago," Mirae Asset Financial Group Chairman Park Hyun-joo said back then. He added that the deal became the cornerstone of Mirae Asset's global business plan.

Mirae Asset has shared its know-how with Global X, from product development to research and operations. The current status of Global X in the U.S. market is as high as it can be ― its assets under management (AUM) stand at 45 trillion won ― as of the end of last year, which is up six times more than what it had at the time of the acquisition. Its compound annual growth rate (CAGR) has been at 29.13 percent for the past five years, which compares favorably with the industry average of just 14.5 percent. The number of its ETS products also increased to 100 from 49, which became the foundation for the stable growth of AUM.

Now, Global X is leading the thematic growth ETF market in the U.S. It concentrated on searching for innovative themes in the ETF market, which had mostly been dominated by passive products such as ones based on market indices, and launched products comprising companies with high growth potentials. It also strengthened research ― with its own research team. Global X has been offering solutions based on products and industry information. It thereby took the initiative in the fast-changing U.S. market. It also satisfies the diverse needs of investors with a broad lineup of products other than thematic ETFs.

Global X is especially competitive in covered call ETFs. Its Nasdaq 100 Covered Call ETF achieved 8 trillion won in AUM last year, becoming one of the most popular products among Koreans investing in the U.S. market and paying back with a high dividend.

Last June, Mirae Asset Global Investments and Global X jointly acquired ETF Securities, an Australian ETF management firm. It is the first time for a local asset management firm to acquire an ETF management firm overseas with the money it earned abroad.

Mirae Asset plans to expand its global business, due to the synergy effect with Global X. It thus changed the names of ETF Securities to Global X Australia, and Mirae Asset Global Investments Brazil to Global X Brazil, as a way to enhance the brand value of Global X. It plans to diversify its business and expand to Southeast Asia and the Middle East, strengthening its foothold as a global financial group.

"The U.S. market is essential for any ETF management company to grow into a global player as it leads the ETF industry. We will concentrate our efforts to make a leap forward as a global player, maximizing synergy effects with Global X, which is expanding its presence in the U.S. market," a spokesperson for Mirae Asset Global Investments said.

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Mirae Asset Securities has acquired market maker GHCO for $40m

Mirae Asset Securities acquires GHCO in $40m deal

Korean securities company enters European market

Mirae Asset Securities has acquired market maker GHCO for $40m as the group continues to expand its global ETF business.
The deal, which completed on 6 December, is the first purchase made by the securities arms of Mirae Asset Global Investments outside of the Asian market and is the firm’s first entry into Europe.

Speaking to ETF Stream, Daniel Izzo, CEO of GHCO, said the deal will give his firm the scale to compete directly with the two largest market makers in Europe, Jane Street and Flow Traders.
“The barriers to entry are exceedingly high in Europe and it takes scale to make a legitimate competitive effort. That is what this transaction gives us; the capability, scope and scale to get to the next level and pose as a legitimate competitor.”

GHCO, launched in 2005, will be incorporated as a subsidiary of Mirae Asset Securities in the first half of 2023, subject to regulatory approval.
Izzo (pictured), who has long been a proponent of shifting ETF trading volumes away from request for quote platforms and onto exchanges, will remain as CEO following the acquisition.

Meanwhile, GHCO’s head of trading and managing partner Stefan Kaba-Ferreiro is leaving to establish his own crypto business.
In a LinkedIn post, Kaba-Ferreiro wrote: “I will be completing my handover in London over the next couple of months and taking some time to recharge as the last few years in markets have been relentless.
“My partner and friend Dan is continuing on as CEO with new investors...as well as the rest of the excellent team.” In August, Mirae Asset Securities took its first steps in the European market with the appointment of
former Tradeweb director of ETF sales Alex Gladkow.
Gladkow joined the business as an “ETF ambassador” in Europe, responsible for enhancing the strategic direction of the firm as a trusted partner in the European ETF space.
The latest acquisition is a sign the group is looking to expand its ETF capabilities beyond asset management.
Mirae is currently represented in the European ETF market by Global X, which it acquired in 2018, with the firm embarking on a rapid expansion of its European ETF range this year.
Izzo added GHCO will continue to operate as an independent firm to avoid “conflicts of interest” with other ETF issuers.
In June, Mirae Asset Global Investments and Global X acquired ETF Securities Australia, which housed
roughly A$4.7bn assets under management (AUM) at the time of purchase.
The firm currently runs ETFs in the US, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea and Vietnam.

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https://www.pr.com/press-release/874552

Mirae Asset Securities (USA) Inc. Appointed as Fully Disclosed Clearing Broker for Cboe’s New U.S. Treasuries Trading Platform

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Horizons Global Sustainability Leaders Index ETF (“ETHI”) Global Equity 1127
Horizons Global Sustainability Leaders Index ETF (“ETHI”) RI – Equity 287
Horizons Balanced TRI ETF Portfolio (“HBAL”) Global Equity Balanced 722
Horizons Conservative TRI ETF Portfolio (“HCON”) Global Neutral Balanced 893
Horizons NASDAQ-100® Index ETF (“HXQ”) U.S. Equity 833
Horizons S&P/TSX 60™ Index ETF (“HXT”) Canadian Equity 379
Horizons Pipelines & Energy Services Index ETF (“HOG”) Energy Equity 33
Horizons Active Cdn Municipal Bond ETF (“HMP”) Canadian Short Term Fixed Income 169

Created by Fundata Canada Inc., the FundGrade rating system uses risk-adjusted performance figures to rank and grade Canadian investment funds, which include ETFs. Based on up to 10 years of performance data, the ‘A+ Grade’ is strictly a quantitative calculation conducted on an annual basis, which results in a grade score ranking, according to the fund classification standards defined by the Canadian Investment Funds Standards Committee (“CIFSC”).

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As online shopping penetration continues to rise in China, delivery services are critical to online businesses that require timely and cost-effective ways to deliver products. On average over 200 million express parcels are shipped every day across China, with around 70% derived from e-commerce transactions.1 The express delivery industry in China has expanded over the past decade, with a compound annual growth rate (CAGR) of 43% during 2010-2020.2 This is broadly consistent with China’s e-commerce gross merchandise value’s (GMV’s) compound annual growth rate (CAGR) of 37% during the same period.3

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Mirae Asset Securities named to Dow Jones Sustainability World Index

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As the first global sustainability benchmark, the DJSI World Index selects the top 2,544 listed companies based on their free-float market capitalization. It then evaluates the companies’ environment, social and governance performance and only picks the top 10 percent to be added to the index, which serves as a global benchmark for investors interested in sustainable investing.

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