Hong Kong is one of the leading ETF markets in Asia with assets under management of US$28.7 billion, representing a market share of 23% in Asia(2). 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 period(3).
"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 US$5.5 billion from US$1.1 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.hk(4).
----------------------------------------------------------------------------Stock Code Current Fund Name New Fund Name---------------------------------------------------------------------------- Mirae Asset TIGER ETF Series Horizons Exchange Traded Funds Series---------------------------------------------------------------------------- 2835 Mirae Asset TIGER KOSPI 200 ETF Horizons KOSPI 200 ETF---------------------------------------------------------------------------- 3054 Mirae Asset TIGER S&P Emerging Horizons S&P Emerging Asia Asia Consumer ETF Consumer ETF---------------------------------------------------------------------------- 3056 Mirae Asset TIGER S&P Global Horizons S&P Global Consumer Consumer Brands ETF Brands ETF---------------------------------------------------------------------------- 3064 Mirae Asset TIGER S&P Asia ex Horizons S&P Asia ex JANZ JANZ Financials ETF Financials ETF---------------------------------------------------------------------------- 3066 Mirae Asset TIGER S&P Asia ex Horizons S&P Asia ex JANZ IT ETF JANZ IT ETF---------------------------------------------------------------------------- 3075 Mirae Asset TIGER S&P Asia ex Horizons S&P Asia ex JANZ JANZ Industrials ETF Industrials ETF---------------------------------------------------------------------------- 3076 Mirae Asset TIGER S&P Asia ex Horizons S&P Asia ex JANZ Energy JANZ Energy ETF ETF---------------------------------------------------------------------------- 3078 Mirae Asset TIGER S&P Asia ex Horizons S&P Asia ex JANZ JANZ Materials ETF Materials ETF----------------------------------------------------------------------------
