Mirae Asset Global Investments, a leading Korean asset manager and subsidiary of the Mirae Asset Financial Group, is a major player in the Asian financial market. The firm manages approximately USD 306 billion in assets as of June 2025 and maintains a strong presence in traditional mutual fund businesses across the Asia-Pacific region. Its Korean and Indian franchises benefit from experienced investment teams, collaborative research structures, disciplined product development, and low manager turnover.
However, the firm’s global exchange-traded fund franchise, spanning Global X in the US, Canada, and Hong Kong, along with the TIGER range in Korea, now represents more than half of group assets under management and continues to display persistent weaknesses. Despite closing several thematic funds last year and earlier commitments to prioritize core offerings, the platform has continued to introduce a high volume of gimmicky or short-term thematic products. Many of these launches appear commercially driven and lack long-term investor utility, signaling weak product discipline. Although such strategies account for a small share of ETF AUM, the practice raises broader concerns around stewardship and governance. Leadership turnover and cultural friction within Global X further highlight these issues.
While the Asia-Pacific mutual fund franchise remains a notable strength, the scale and persistence of challenges in the ETF arm outweigh these positives. Therefore, we have downgraded the Parent Pillar rating to Below Average from Average.
Note: This share class' Parent Pillar rating is analyst-driven, as its Branding Name, Global X (Branding Name ID: BN00000C5F), is covered by Morningstar Manager Research.
United States