Mirae Asset Introduces New Global ETF Brand Horizons Exchange Traded Funds
(MENAFN Press) Hong Kong--MediaOutReach--05 November 2012 --
The Mirae Asset TIGER ETF Series and its eight sub-funds ("ETFs") have been renamed to reflect the synergies of the Horizons acquisition that was completed last year and saw a quadrupling of Mirae Asset Global Investments Group ("Mirae Asset")'s global ETF assets under management.
The Hong Kong-listed ETFs, of which seven were launched on 27 January 2012 and one (renamed "Horizons KOSPI 200 ETF") on 17 January 2011, also stand to benefit from the synergistic relationship that has brought together the global expertise and resources of Horizons ETFs Management (Canada) Inc. ("Horizons Canada") and the strong regional track record of Mirae Asset, which is one of the largest investors in emerging market equities1.
Mr. Jung Ho RHEE, Chief Executive Officer of Mirae Asset Global Investments (Hong Kong) Limited, says, "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. 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 US28.7 billion, representing a market share of 23% in Asia2. 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 period3.
"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 adds.
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 US5.5 billion from US1.1 billion, previously (as of 30 September 2012). Mirae Asset's majority stake includes Horizons Canada's majority interest in Australia-based BetaShares Holdings Pty. Ltd.
Mirae Asset's global ETF business is managed out of offices in Australia, Canada, Hong Kong, Korea, the United States, and more recently, Latin America.
"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 recognize it as a standard of excellence in ETFs."
Having a global brand has become an important part of ETF marketing, with most of the major regional ETF companies being part of global organizations which use consistent branding around the world. "There is a certain amount of trust that ETF investors attach to ETF providers with international scale. We expect all of our investors from the various world-wide markets we have businesses in to know that their ETF investments are backed by a strong global company which has access to a comprehensive network of regional and international ETF expertise," Mr. Atkinson adds.
With effect from today, "Horizons" replaces the "Mirae Asset TIGER" portion of the funds' names. A list of the previous and new fund names are provided below.
For additional information, please visit http://www.horizonsetfs.com.hk4.
Current Fund Name
New Fund Name
Mirae Asset TIGER ETF Series
Horizons Exchange Traded Funds Series
Mirae Asset TIGER KOSPI 200 ETF
Horizons KOSPI 200 ETF
Mirae Asset TIGER S&P Emerging Asia Consumer ETF
Horizons S&P Emerging Asia Consumer ETF
Mirae Asset TIGER S&P Global Consumer Brands ETF
Horizons S&P Global Consumer Brands ETF
Mirae Asset TIGER S&P Asia ex JANZ Financials ETF
Horizons S&P Asia ex JANZ Financials ETF
Mirae Asset TIGER S&P Asia ex JANZ IT ETF
Horizons S&P Asia ex JANZ IT ETF
Mirae Asset TIGER S&P Asia ex JANZ Industrials ETF
Horizons S&P Asia ex JANZ Industrials ETF
Mirae Asset TIGER S&P Asia ex JANZ Energy ETF
Horizons S&P Asia ex JANZ Energy ETF
Mirae Asset TIGER S&P Asia ex JANZ Materials ETF
Horizons S&P Asia ex JANZ Materials ETF
About Mirae Asset
(www.miraeasset.com4)Mirae Asset Financial Group is a leading independent financial services group, headquartered in Seoul, South Korea. While the group's core business is asset management, it also provides comprehensive financial services in the areas of wealth management and life insurance.Mirae Asset Global Investments Group is the asset management arm of Mirae Asset Financial Group. It is one of the largest investors in emerging market equities1. With close to 600 employees, including 130 dedicated investment professionals (as of 30 September 2012), Mirae Asset Global Investments Group has a presence in Australia, Brazil, Canada, China, India, Korea, Taiwan, United Kingdom, USA and Vietnam, in addition to its Hong Kong office. Mirae Asset Global Investments Group manages US53.85 billion in assets globally (as of 30 September 2012).About Horizons ETFs Management (Canada) Inc. (www.horizonsetfs.com4)Horizons ETFs Management (Canada) Inc. is an innovative financial services company offering the Horizons ETFs family of ETFs. The Horizons ETFs family includes a broadly diversified range of investment tools with an aim to provide solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately US3.5 billion in assets under management and 79 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (USA) LLC, an affiliate of Horizons ETFs Management (Canada), also has three ETF in the process of applying registration with the Securities and Exchange Commission in the United States for listing. Horizons ETFs is a subsidiary of Horizons ETFs Management (Canada) Inc. and a member of the Mirae Asset Financial Group, which collectively oversees approximately US5.5 billion of assets across 180 ETF listings (data as of 30 September 2012).1Source: One of the largest investors in emerging market equities amongst 68 asset management firms surveyed - Investing in Emerging Market Equities Survey, Investment & Pensions Europe (IPE) January 31, 20122Source: Deutsche Bank Weekly ETF Market Review, 22 October 20123Source: HKEx Overview of ETF Market in Hong Kong, 19 June 20124 The website has not been reviewed by Securities and Futures Commission. It may contain information on funds which are not authorised for sale to the public in Hong Kong and are not available to Hong Kong investors. DisclaimerThis document is issued by Mirae Asset Global Investments (Hong Kong) Limited ("Mirae Asset HK") and has not been reviewed by the Securities and Futures Commission. Past performance is not indicative of future performance. Whilst Mirae Asset HK has, to the best of its endeavor, ensured that information compiled by third party sources is accurate, complete and up-to-date, and has taken care in accurately reproducing the information, it shall have no responsibility or liability whatsoever for the accuracy of such information or any use or reliance thereof. None of the Funds is sponsored, endorsed, sold or promoted by Standard & Poor's and its affiliates ("S&P"). S&P makes no representation, condition or warranty, express or implied, to the owners of the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly or the ability of their underlying indices to track the performance of certain financial markets and/or sections thereof and/or of groups of assets or asset classes. Please read the full disclaimers in relation to the underlying indices in the Funds' offering documents. KOSPI 200 is a service mark of the Korea Exchange licensed for use by Mirae Asset HK. The information contained in this document does not constitute any recommendation, offer or solicitation to enter into any transaction.
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