Mirae Asset Global Investments announced on Nov. 18 that the size of the funds run by its 12 overseas subsidiaries in the United States, Hong Kong, and India increased by 1.6304 trillion won (US$1.4723 billion) this year to break the US$8 billion mark.
By country, the increment reached 718.6 billion won (US$648.9 million) in Australia, 164.6 billion won (US$148.8 million) in Canada, 148.3 billion won (US$134.1 million) in India, and 107.7 billion won (US$97.3 million) in the United States. Back in late 2008, the total was only 81.1 billion won (US$73.2 million).
The company has set up overseas subsidiaries in the United Kingdom, Brazil, and many other countries over the past 10 years. Also, it has acquired local asset management firms in Taiwan, Canada, and Australia while launching a joint venture in China. At present, it is running 10 overseas subsidiaries and two local offices in 12 countries.
Recently, its Sicav Fund exceeded US$1 billion, too. The fund consists of 14 funds investing in emerging markets, including locally. It has been sold via 40 global financial companies in 12 countries, including Hong Kong, Japan, and those in Europe and the Middle East, and the amount increased by 250.2 billion won (US$225.8 million) in 2014 alone.