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The Korea Herald
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THE INVESTOR
July 16, 2024

Finance

Global X Canada debuts as Mirae Asset aims unified global ETF brand

  • PUBLISHED :May 02, 2024 - 17:13
  • UPDATED :May 02, 2024 - 17:13
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Global X Canada CEO Rohit Mehta (eighth from left), company officials, and industry stakeholders pose for a photo at a rebranding marketing open ceremony at the Toronto Stock Exchange in Canada on Wednesday. (Mirae Asset Global Investments)

Mirae Asset Global Investments announced Thursday that its Canadian exchange-traded fund subsidiary, Horizons ETFs, is rebranded as Global X Canada, aligning with an integrative strategy of its global ETF offerings under the unified brand, Global X.

Since being acquired by Mirae Asset Global Investments in 2011, the Canadian ETF firm has witnessed substantial growth in assets under management. AUM have escalated by 963 percent, growing from approximately 3 billion Canadian dollars ($2.2 billion) at the time of acquisition to CA$31.9 billion by April of this year, positioning the firm as the fourth largest ETF manager in Canada.

In celebration of the rebranding, Global X Canada hosted a market opening ceremony at the Toronto Stock Exchange, attended by Global X Canada CEO Rohit Mehta, company officials, and industry stakeholders.

“Along with Global X Canada, we expect to provide local investors with an innovative investment experience, and will continue to strive to present competitive products to ETF investors worldwide,” President of Mirae Asset Global Investments Kim Young-hwan said.

The occasion also served as a platform to announce the launch of 17 new ETFs under the Global X brand, slated for release on the Canadian exchange in May. These include the Global X Artificial Intelligence & Technology Index ETF (AIGO), the Global X MSCI Emerging Markets Covered Call ETF (EMCC), and the Global X Innovative Bluechip Top 10 Index ETF (TTTX).

“Over the past two decades, we have introduced innovative and distinctive products in the Canadian ETF market, establishing ourselves as a leading ETF manager in Canada. Moving ahead, we will offer enhanced investment solutions based on the global network of Mirae Asset group and the Global X ETF platform," Mehta commented.

This rebranding initiative is part of a broader strategy by Mirae Asset Global Investments to streamline its ETF offerings globally under the Global X banner. As of the end of April, the total net assets of Mirae Asset Global Investments' ETFs worldwide amounted to approximately 160 trillion won ($116 billion).

The rebranding follows the successful transitions of Mirae Asset’s ETF businesses in Hong Kong, Colombia, Brazil and Australia to the Global X brand, emphasizing a cohesive unified approach.

By Park Se-ra (serap1005@heraldcorp.com)

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