Mirae Asset Global Investments (India) Pvt. Ltd update

Mirae Asset Global Investments (India) Pvt. Ltd update

Mirae Asset Mutual Fund (“Mirae Asset MF”) has completed more than a decade in India and is now establishing a stronger foothold in the Indian Mutual Fund Industry. Mirae Asset Mutual Fund’sAUM stands ~ INR 31,800 crores (as on 28^th June 2019) and the company had witnessed a growth of more than *50% in 2018 calendar year. Mirae Asset Mutual Fund is one of the fastest growing MFs in India based on the rate of AUM growth and even industry participants are recognizing the same. The journey over the last 5years has been even more impressive with more than 60 times growth in AUM (AUM was INR 500 crores on 31^st July, 2013).*

Mirae Asset has broken into the Top 15MFs based on AAUM and is at 12th position based on Equity Assets (Source: ACE MF, data as on 31^st May 2019). Mirae Asset Mutual Fund has witnessed a significant surge in the number of investor folios with more than 16.15lakh investor folios (including more than 8 lakh SIP investors) as on 31st May 2019. The SIP flows have also grown significantly and have grown 12 X from INR 29 crores in March’16 to monthly inflows of ~INR348 crores in May’19.

Mr. Swarup Mohanty, CEO, of Mirae Asset Global Investments (India) Pvt Ltd (“AMC”) commented “It has been a great journey for Mirae Asset Mutual Fund over the last couple of years with robust growth. We have sought this position by maintaining a performance track record, risk management framework and customer centricity which has been instrumental in winning trust of our clients as well as distributor partners. The growth in SIP flows is commendable, as it can be assumed that the SIP is a forward call for an organization by both advisors as well as investors. We are extremely happy to see the faith in us growing amongst advisors and investors. It is our endeavor to provide good investment experience for our investors and help them in their wealth creation journey.”

Mirae Asset MF plans to add one more scheme to their basket .i.e. Mirae Asset Midcap Fund (an open ended equity scheme predominantly investing in midcap stocks. The NFO of the fund will be open from 8^th July to 22^nd July 2019. The fund shall be predominantly investing in a midcap portfolio (companies between 101-250 in market capitalization), while it has some flexibility to invest across large caps and small caps (upto a max of 35%) and across sectors. The fund aims to build a diversified portfolio of strong growth companies, reflecting our most attractive investment ideas. The fund aims to create a diversified portfolio to avoid concentration and liquidity risks. Mr. Ankit Jain will be managing this fund. Mr. Ankit Jain co manages Mirae Asset Emerging Bluechip Fund (Large & Mid Cap Fund - An open-ended equity scheme investing in both large cap and mid cap stocks) along with Mr. Neelesh Surana (CIO) and is the sole fund manager for Mirae Asset Great Consumer Fund (Thematic Fund - An open-ended equity scheme following consumption theme).

Mr. Swarup Mohanty commented “Mirae Asset MF is enhancing its product basket to provide varied investment solutions for its investors and partners. We believe that mid cap segment provides a decent entry point for investors, as midcap stocks are now trading at close to 20% discount to large caps. We believe investors with a 3-5 year view should be looking at diversifying its portfolio in a midcap fund”

Mirae Asset Mutual Fund has 16branches in India and Kolkata is an important market for us. The AUM of Mirae Asset MF in Kolkata is more than INR 1,200 crores (as on 31^st May2019) compared with INR 978crores in December 2018 and Rs. 601 crores in December 2017, a ~100% growth in assets in last 17 months. Mr. Swarup Mohanty commented “Kolkata is a very important market for Mirae Asset MF. We have been seeing options along with our growth and we hope to strengthen our position in this market”.

About Mirae Asset

Mirae Asset Global Investments (India) Pvt. Ltd. is a wholly-owned subsidiary of the Mirae Asset Global Investment Ltd. Over the last 2 decades Mirae Asset Global Investments Co. Ltd. (the sponsor) has become one of the world’s largest investors in emerging market equities, managing total assets of over USD 134.73 billion as on31^st March 2019.  Headquartered in South Korea, Mirae Asset Global Investments Ltd also has investment management operations in Hong Kong, Singapore, United Kingdom, India, Vietnam, USA, Canada, Australia and Brazil. Apart from asset management, Mirae Asset Financial Group has business interest in Life Insurance, Securities Investment & Venture Capital.

Mirae Asset (India) carries out Asset Management business and also provides Advisory Services to Hong Kong office for Equity Investments and Korea offices for both equity and debt Investments. The mix of domestic and International businesses allow to provide stable growth for Mirae Asset India business. Mirae Asset Global Investments (India) Pvt. Ltd currently manages 6 equity funds, 4 debt funds, 2 Hybrid Funds, 1 close ended fixed maturity plan and 1 ETF.

In addition to providing the traditional equity and fixed income products, Mirae Asset Group increased its footprint into the Alternate Product space. Mirae Asset Group ventured into Venture Capital, Real Estate, Capital Markets and Alternate Investment Funds in 2018. Mirae Asset Group set up an investment banking and broking business through Mirae Asset Capital Markets (India) Pvt. Ltd in 2018.