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Mirae and Global X acquires ETF Securities

Booming ETF market heats up with arrival of global player
Mirae Asset Global Investments Co., Ltd and Global X ETFs this week announced the acquisition of ETF Securities, a pioneer of exchange traded funds both in Australia and around the world.

Mirae Asset Global Investments Co., Ltd and Global X ETFs this week announced the acquisition of ETF Securities, a pioneer of exchange traded funds both in Australia and around the world.

The deal sees ETF Securities’ innovative stable of investments move under a new banner and likely represents an acceleration of competition in the sector which recently passed $100 billion in assets under management.

Both Global X and Mirae are part of the broader Mirae Asset Financial Group which has over $640 billion in assets under management worldwide, $40 billion of which are invested through the New York-based Global X business across 90 unique ETF strategies.

  • According to the media release, the acquisition provides an opportunity for Mirae and Global X to add instant scale to their global business, but also an existing footprint to expand into the fast-growing Australian market; a standout compared to many parts of the developed world.

    The deal will see ETF Securities line-up of thematic, commodities and digital asset strategies be complimented by the broader range of innovative and intelligent ETF solutions listed on various exchanges around the world by Global X.

     “We are incredibly excited to enter the Australian market and to meaningfully expand our global ETF footprint through the acquisition of ETF Securities’ inventive business,” said Byungsung Lee, CEO of Mirae Asset Global Investments. “This acquisition underscores Mirae Asset’s continued commitment to maintaining industry-leading ETF businesses in key markets around the world and brings immediate scale to our operations in Australia.”

    “For 20 years, ETF Securities has been a pioneer in the ETF industry. From the introduction of the world’s first physical gold ETF in 2003 to maintaining the largest precious metals ETF platform in Australia today and expanding its offering to include a growing range of thematic and digital assets products, I’m exceedingly proud of what the team has been able to accomplish,” said Graham Tuckwell, Founder and Chairman of ETF Securities.

    “As true innovators in the ETF industry around the world, Mirae Asset and Global X are likeminded – undeniably sharing our Australian teams’ visionary mindset and commitment to client service.”

    There will be no immediate change to the current lineup offered by ETF Securities, with the Physical Gold ETF (ASX:GOLD) currently undergoing a capital restructure, but it is clear that new opportunities will emerge for investors in the months and years to come as the listed structure becomes ever more popular.

    Ishan Dan

    Ishan is an experienced journalist covering The Inside Investor and The Insider Adviser publications.

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