November 2020
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November 2020
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Korea’s Mirae Asset gets nod to sell China, Asia funds in Hong Kong

Mirae
By Hui Ching-hoo   
November 20, 2020

South Korea’s Mirae Asset Global Investments has received approval from Hong Kong’s financial regulator to sell its Luxembourg-domiciled China and Asia equity funds to investors in the city.

The Mirae Asset China Growth Equity Fund and the Mirae Asset Asia Growth Equity Fund were launched in 2015 and 2014, respectively, and are available in several other countries.

According to Mirae Asset, they are designed to meet growing retail and institutional demand for exposure to growth sectors in Asia.

The China fund focuses on key investment themes such as biotechnology, e-commerce and cloud technology, while the Asia fund capitalises on thematic investment opportunities in the region, such as information technology and renewable energy.

“With China and Asia offering attractive returns and growth opportunities, we believe our on-the-ground presence in Asia provides unparalleled expertise to capture and identify investment ideas early,” JH Rhee, chief executive officer of Mirae Asset Global Investments (Hong Kong), says a statement on November 19.

Seoul-based Mirae Asset had US$162 billion of total assets under management as of September 2020.