Korea’s top asset management firm attracts big-sized funds
This year’s stock market in South Korea has been spearheaded by equity ETFs of which sizes topped 50 trillion won ($38 billion) thanks to the popularity of products related to ChatGPT and rechargeable batteries.In particular, Mirae Asset Global Investments has been ahead of the pack since this April, according to the Korea Financial Investment Association on Nov. 14.The leading asset management company said that it had attracted ETF investors through three Tiger products associated with the top 10 US tech firms, leading semiconductor companies and the best 100 NASDAQ firms.Mirae Asset noted that the rise of ChatGPT throughout this year had boosted the three products.Plus, the Seoul-based outfit said that its four ETF products about rechargeable batteries had chalked up solid performances this year. One of them showed a profit ratio of 41.6 percent in July to top the table.Mirae Asset also offers various ETFs with high potential designed to benefit from the resumption of group tourism of Chinese visitors in Korea this year.“At a time when the interest rate continues to rise, TIGER ETF will win the hearts and minds of more people when they start to appreciate the stock market,” a Mirae Asset official said.“Equipped with various ETF lineups, Tiger ETF will become a long-term partner for investors down the road.”Brief for Exchange Trade Funds, ETFs are designed to track an index as compared to index funds.They are regarded as low-risk investments because of their outstanding features, including diversification, affordable management feeds, and high price visibility.In particular, ETFs have gained ground across the world thanks in no small part to their outstanding performances over the past several years.In Korea, Mirae Asset has led the ETF trends. The corporation has also briskly advanced into the global markets. In 2018, the entity expanded its ETF portfolio by snapping up Global X ETFs, a specialist in thematic and income strategies.이 기사를 공유합니다
Tim Kim
(voc200@gmail.com)