(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