Mirae Asset Group

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Mirae Asset Global Investments
Type Private company
Industry Financial services
Founded 1997
Headquarters Seoul, South Korea
Products Mutual funds, Trading & Investing, Retirement & Planning
AUM US $58.7 billion (Dec 2013)
Employees 568 Total; 121 Investment Professionals (Dec 2013)
Website www.miraeasset.com

Mirae Asset Financial Group is an independent financial services group in Asia,[1] 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.[2] With approximately 568 employees, including more than 121 dedicated investment professionals (as of 31 Dec 2013), 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$58.7 billion in assets globally (as of 31 Dec 2013).[3]

Chairman [4]

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 [5]

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 [6]
  • 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[7]
  • 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 [8]

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. ↑ Top Retail Manager in Asia ex-Japan, Australia, and New Zealand - Fund Manager Survey 2013, Asia Asset Management, September 2013
  2. ↑ One of the largest investors in emerging market equities amongst 79 asset management firms surveyed - IPE Survey: Managers of Emerging Market & Frontier Equities, Investment & Pensions Europe (IPE) January 31, 2013
  3. ↑ Mirae Asset About Us
  4. ↑ http://www.miraeasset.com/aboutus/whoWeChairman.jsp
  5. ↑ Mirae Asset Milestones
  6. ↑ Korea Financial Investment Association
  7. ↑ Korean company to buy Titleist, Footjoy, FOX Sports, May 20, 2011.
  8. ↑ http://www.miraeasset.com/aboutus/awardsCompany.jsp and http://www.miraeasset.com/aboutus/awardsFunds.jsp

See also

External links

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