Mirae completes acquisition of Global X

Jul 2nd, 2018 | By | Category: ETF and Index News

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Seoul-based Mirae Asset Global Investments has completed its previously announced acquisition of Global X, having integrated the firm’s $10.1 billion of ETF assets under management.

Taeyong Lee Mirae Global X ETFs

Taeyong Lee, Mirae Asset’s global head of ETFs.

The addition of Global X provides an anchor presence in the United States for Mirae’s global ETF business, which also includes businesses in Canada, Latin America, Hong Kong (Horizons ETFs), Australia (BetaShares) and South Korea (Tiger ETFs).

Prior to Global X’s incorporation, Mirae boasted $126.3bn in AUM including $21.3bn across its global ETF businesses.

“With the acquisition of Global X, our ETF business will become a truly global ETF platform that offers some of the most unique and innovative ETF products and investment solutions,” said Taeyong Lee, Mirae Asset’s global head of ETFs. “Combining the expertise of our teams across the world, we will continue to build a differentiated ETF business in both the local and global marketplaces.”

“The closing of this deal marks the beginning of the next chapter in Global X’s story,” added Luis Berruga, CEO of Global X. “The core of our firm has always been focused on designing and offering investment solutions that match the needs of our clients. Mirae Asset is the ideal partner for Global X, as we share that entrepreneurial spirit and client-centric focus. We are excited to combine our capabilities to bring our investor-driven solutions to a global stage.”

The day-to-day operations of Global X have not changed and the ETFs will continue to be maintained under the Global X brand.

The Global X franchise, which is home to 52 ETFs in the US, is expected to benefit from the greater resources of the combined business.

Global X’s largest ETF is the $2.2 billion Global X Robotics & Artificial Intelligence ETF (BOTZ US).

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