Indian Subsidiary Marks 15th Anniversary
Mirae Asset Global Investments India celebrated its 15th anniversary on Jan. 18. At present, the company is the only independent foreign capital management firm in India and the ninth-largest in the local industry.
At the end of last year, its total custody was approximately 21 trillion won, which increased more than 100-fold in 15 years. The amounted topped 10 trillion won in 2020 and topped 21 trillion won in 2022.
The company’s retail accounts increased from 2.8 million to 4.7 million in 2021 and to 5.5 million in 2022. The local subsidiary adopted a holding company structure in 2019 to expand its business scope and cover real estate loans, asset management services and venture capital as well as fund operations.
Early this month, the company invested 21 billion won in large logistics centers in Mumbai. It said that its investment in logistics and data centers would increase in step with the Indian government’s infrastructure development policies.