Mirae Asset Global Investments announced on March 7 that its Canadian ETF subsidiary, “Horizons ETFs,” will change its name to “Global X Canada” starting from May.
“Horizons ETFs,” acquired by Mirae Asset Global Investments in 2011, is the fourth-largest ETF operator in Canada. At the time of acquisition, its assets under management were around CA$3 billion. However, the figures have since grown approximately ninefold. Particularly noteworthy is that assets under management increased by CA$7.6 billion despite the global economic downturn last year, surpassing the CA$30 billion mark.
Mirae Asset Global Investments expects that changing the name will enhance the brand value of “Global X” in the global ETF market and leverage synergies in its overseas business. The firm, which has expanded to 16 regions worldwide including the United States, Canada, and Hong Kong, is progressing with the consolidation of its overseas subsidiaries’ ETF brands under the name “Global X.”
Park Hyeon-joo, the chairman and global strategy officer (GSO) of Mirae Asset Financial Group, stated, “Horizons ETFs, which has been recognized as a Permanent Innovator in the Canadian market, is now expected to thrive in the global market under the Global X brand. We are confident that we will capture diverse investment opportunities through the global network and the insight of Mirae Asset’s experts and localize them to provide Canadian investors with an even better investment experience.”