Following last year’s acquisition of a majority stake in Horizons Canada, Mirae Asset Global Investments has confirmed the rebranding of the Mirae Asset Tiger ETF range.

The Hong Kong-listed Mirae Tiger ETFs have adopted the Horizions name following Mirae Asset’s purchase of Horizons.

The eight Hong Kong-listed funds have dropped the Mirae Tiger brand and adopted the more internationally-recognised Horizions name.

Commenting on the rebranding, Mr Jung Ho Rhee, Chief Executive Officer of Mirae Asset Global Investments, said: “The rebranding exercise will give added premium to the ETFs’ heritage as the Horizons name reflects a model franchise with a sterling track record in Canada, which Mirae Asset highly appreciates.”

He continued: “This mutually-beneficial cross-border partnership will enable us to more efficiently capture investment opportunities around the world, strengthen our aptitude for innovation and create products to meet the evolving needs of our investors in Hong Kong.”

Hong Kong is one of the leading ETF markets in Asia with assets under management of US$28.7 billion, representing a market share of 23% in Asia. It has grown significantly in recent years with the number of ETFs increasing by well over 500% since 2007. The number of ETF managers and market makers has also doubled within the same period.

“Our vision is to create the largest independent ETF manager globally by delivering passive and active mandates across multiple asset classes and international markets offering choice and flexibility to every investor. The consolidation of our ETFs under the Horizons brand is a first step towards that goal. This change of ETF names in Hong Kong is a reinforcement of our commitment to delivering unique value and convenience to investors,” Mr Rhee added.

On 14 November 2011, Mirae Asset acquired an ownership stake of approximately 85% in Horizons Canada, whose ETF family is the largest in Canada by number of funds with 79 ETFs listed on the Toronto Stock Exchange. The acquisition boosted Mirae Asset’s global ETF assets under management to approximately US$5.5 billion from US$1.1 billion, previously. Mirae Asset’s majority stake includes Horizons Canada’s majority interest in Australia-based BetaShares.

“Having a unified brand under the Horizons banner will only help us to achieve greater recognition for our global ETF business,” says Mr Howard Atkinson, Global Head of ETF Sales and Marketing. “Our goal is that wherever we go in the world, investors will see the Horizons brand and recognise it as a standard of excellence in ETFs.”

The new fund names are as follows: