To Ramp up Investment in Australian Market
Mirae Asset Global Investments announced on June 15 that it has acquired ETF Securities, an Australian ETF management company.
ETF Securities is a leading ETF manager in Australia’s ETF market. Analysts predict that ETF Securities will strengthen Mirae Asset Global Investments’ ETF business in the Australian market, which has great growth potential. Global X ETFs, a New York-based provider of exchange-traded funds that was acquired by Mirae Asset Global Investments in 2018, .also participated in the acquisition of ETF Securities.
Mirae Asset will ramp up its investment in the Australian market through ETF Securities. It purchased Four Seasons Hotel in Sydney, Australia for 380 billion won in 2013, and established a subsidiary in Australia in 2016. Through the latest deal, Mirae Asset plans to target both the rapidly growing Australian pension market and ETF market.
ETF Securities was established in 2002 and provides commodity ETFs managed in kind to the market. In particular, its main product, ETFS Physical Gold (GOLD) is the world’s first gold spot ETF listed in March 2003. Its net assets amount to 2.36 trillion won.
ETF Securities also has various innovative growth-themed ETFs under its management. ETFS ROBO Global Robotics and Automation ETF (ROBO), listed in September 2017, is a product that invests in global companies that combine innovative technologies such as robotics, automation, and AI into the manufacturing, logistics, and security industries. Its net assets stand at 200 billion won.
In August 2018, ETF Securities listed the ETFS Battery Tech & Lithium ETF (ACDC). The ETF invests in rechargeable battery-related companies and companies which mine metals used to manufacture lithium batteries and has net assets of over 450 billion won.