Mirae Asset Global Investment said on June 5th that it has surpassed the 3 billion dollars in trusts of its Indian subsidiary. It has been the number one seller among local companies from 2016 to 2017. This year, the company is growing by more than 716.8 million dollars.
Established in November 2006, Mirae Asset Global Management India is the only independent foreign capital management company. The company has set up its own funds, has built an operating system, and has been selling products to local people.
In the wake of the global financial crisis, most global asset managers withdrew from the Indian market or switched to a joint venture, but Mirae Asset continued to invest in India based on its growth analysis.
Only 1 out of 130 people are Korean. It is an evaluation that it has positioned itself as a differentiated management company by fusing global research capabilities through a thorough localization strategy. Mirae Asset’s initial entry into the market mainly focused on retail-type equity funds.
About 80 percent of the total assets of the Indian subsidiary are equity funds, and more than half a million accounts are being raised in a stable manner and steadily flowing into the fund, said a Mirae Asset Global Investment official. Recently, the company has expanded its investment assets to include real estate and venture investments in addition to traditional investment assets such as stocks and bonds.
This year, the company has set up an 89.7-million-dollar private equity fund to invest in bonds related to real estate loans in India and is considering investing in logistics and healthcare venture companies in India.
According to Morningstar, a global fund appraiser, the ‘Mirae Asset Emerging Blue Chip Fund’ has a three-year and five-year return of 59.35 percent and 287.28 percent, respectively.
“India will be able to achieve good results if its invests in a long-term perspective, as the policies of GST, currency reform, and bank restructuring have been effective in the past two to three years and corporate profits have increased significantly,” said Neelesh Surana, chief investment official of equities at Mirae Asset Global Investments India.