Mirae Asset Asset Management announced today that its Indian subsidiary has opened a branch in Dubai to expand its business and attract investors.
The Dubai branch is the 22nd branch of the Indian subsidiary and the first overseas branch.
Mirae Asset Asset Management's Indian subsidiary received permission to establish a Dubai branch from the Dubai Ministry of Economy and Tourism on September 2nd.
Dubai is geographically close to India and is in high demand for investment as Indians account for about 35% of the total population.
Even before the establishment of the Dubai branch, about 180 billion won of investment funds had already flowed from Dubai to Mirae Asset Asset Management's Indian subsidiary management fund.
Swarup Mohanty, CEO of Mirae Asset Global Investments India, said, “The Dubai branch of Mirae Asset Global Investments will provide a variety of Indian and global funds to investors in the Middle East.”
Meanwhile, Mirae Asset Asset Management's Indian subsidiary, established in 2008, has grown to become the 10th largest manager in India, managing a total of 37 funds and approximately 21 trillion won as of the end of August 2022.
Currently, it has over 5.4 million investment accounts and receives an inflow of 160 billion won per month from 1.8 million Systematic Investment Plans (SIPs).
