Mirae Asset Global Investments merges with Mirae Asset MAPS Global Investments
Mirae Asset Global Investments is pleased to announce that as of 26th March, it will commence operations post its merger with Mirae Asset Maps Global Investments, its sister company specialized in alternative investments
Mon Mar 26 00:00:00 KST 2012
Mirae Asset Global Investments is pleased to announce that as of 26th March, it will commence operations post its merger with Mirae Asset Maps Global Investments, its sister company specialized in alternative investments.
The Korean Financial Securities Commission granted approval for the merger on March 7th, with the official date scheduled for March 26th. The AUM of the overall group AUM now stands over USD 54 billion with a considerably more diversified product mix: 41% equity funds, 36% fixed income and balanced funds, 10% of global asset (ex. Korea,) and 7% real estate funds & private equity funds.
The combined entity has 12 global offices located in HK, Brazil, India, the UK, the US, Canada, Vietnam, Taiwan, Indonesia (expected to complete acquisition in 2H 2012), Australia, China and Korea.
After the merger, Mirae Asset Global Investments will become the largest asset manager in the asset class categories of equity, balance, real estate and PEF in Korea and will remain the largest mutual fund manager in Korea.
Mirae Asset Global Investments plans to continue to provide its clients with competitive products that utilize the active management and research capacity of Mirae Asset Global Investments, and the financial engineering and index fund know how of Mirae Asset MAPS Global Investments.
Since its inception, Mirae Asset MAPS Global Investments has positioned itself as the leading AI specialist in Korea. The PEF division acquired Acushnet, the manufacturer of Titleist, Footjoy and Scotty Cameron golf equipment in 2011 and the current global asset value of the Real Estate Division totals USD 8 billion, with landmark assets spread across the globe.
Hyeon-Joo Park, Chairman and Founder of Mirae Asset Financial Group, said “We are extremely excited with this merger, which will create great synergies for Mirae Asset Global Investments. We will seek to leverage the power of Mirae Asser MAPS as an innovative leader within the alternative investment industry, and we will continue to introduce creative and more diversified emerging market products to our global clients. This merger not only helps to provide better diversification for our clients, but also creates enhanced stability for our business.”
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About Mirae Asset:
Mirae Asset Financial Group is a leading 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 Global Investments Group is the asset management arm of Mirae Asset Financial Group. It is one of the largest investors in emerging market equities1. With around 690 employees, including more than 144 dedicated investment professionals (as of 29 February 2012), Mirae Asset Global Investments Group has a presence in Hong Kong, China, Korea, India, Vietnam, Taiwan, Brazil, the United Kingdom and the United States. Mirae Asset Global Investments Group manages over US$54.7 billion in assets globally (as of 29 February 2012).
1 One of the largest investors in emerging market equities amongst 54 asset management firms surveyed - Investing in Emerging Market Equities Survey, Investment & Pensions Europe (IPE), Jan., 2011
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