Mirae Asset Global Investments announced today that it has changed the name of its local subsidiary in Brazil to "Global X Brazil" and has listed 19 ETFs on the Brazilian Stock Exchange.
Mirae Asset Global Investments established a local corporation in Brazil in 2008 to conduct various businesses such as stock and bond-type fund management and real estate investment, and provides investment products to local investors.
Mirae Asset Global Investments Brazil Corporation announced its ambition to lead the overseas ETF market by entering the ETF business in earnest through this name change.
Global X Brazil listed 19 ETFs on the Brazilian stock exchange Brasil Bolsa Balcão on April 18, local time.
In Brazil, ETFs account for only 1% of the total fund market. However, over the past 10 years, Brazilian ETFs have been growing rapidly at an average annual rate of 32%. After the introduction of BDR in 2020, global operators such as "Black Rock" are entering the Brazilian BDR market in earnest.
“There is no themed ETF manager in Brazil, so there is a lot of demand for Global X products, with Brazilian investors investing in US-listed ETFs," said Global X CEO Luis Berruga. "We will strive to expand our market share by reinforcing professional manpower and listing additional ETFs.”