[News Article] Mirae Asset Global Investments India expands into various areas, paying attention to …
Mirae Asset Global Investments
India expands into various areas, paying attention to India's high growth
potential By Lee Jun-sung, Korea IT Times
- Mirae Asset Global Investments India, the only independent foreign capital
management company in India, is growing rapidly this year as in the previous
year. After establishing a
corporation in Mumbai in 2006, Mirae Asset Global Investments launched its
first fund in 2008 and has grown to become the 9th largest asset management
company in India in 15 years. Mirae Asset Asset Management is
a global asset management company that is building a global network centered on
Mirae Asset Financial Group Chairman Park Hyeon-joo.
Although India is an attractive
market comparable to China, it is a difficult environment for foreign companies
to take root. In particular, after the global
financial crisis, all foreign management companies withdrew, but Mirae Asset
Global Investments focused on localization thoroughly and made active
investments. As a result, it managed 21
trillion won in total trust and achieved a profit of 57 billion won at the end
of 2022.
“The Indian subsidiary of Mirae
Asset Global Investments, which entered the Indian market with a capital of 50
billion won in 2006, steadfastly endured the financial crisis when all foreign
management companies withdrew," said Park Hyeon-joo, chairman of Mirae
Asset Financial Group. "The company has now grown into a comprehensive
financial company with seven subsidiaries.”
Mirae Asset Global Investments
has been expanding into various areas, paying attention to India's high growth
potential. The company was approved by the
Securities and Exchange Board of India (SEBI) in November 2019 to convert to an
operating holding company structure.
Mirae Asset Global Investments
is expanding its business areas to Non-Banking Financial Company (NBFC) that
lends to real estate and companies, venture capital that invests in Indian
startups, and asset management services for high-net-worth individuals. In particular, India has the
fastest-growing startup market among emerging countries, with an investment
scale of 60 trillion won and more than 40 unicorn companies.
Mirae Asset Global Investments'
venture capital, an Indian subsidiary of Mirae Asset Management, highly
evaluates the market's growth potential, with a cumulative investment amount of
$350 million, and plans to raise more than KRW 60 billion from Wealth
Management (WM) customers to operate the Venture Capital funds. In line with the rapid growth
of India's WM market, the company established a branch in Dubai, United Arab
Emirates. Dubai is geographically close
to India, and Indians account for about 35% of the total population, so
investment demand for local funds in India is high. As of the end of 2022, Mirae
Asset Asset Management Indian subsidiaries are growing rapidly, with the
deposit of 21 trillion won and the number of accounts of 5.5 million.
Meanwhile, the company is
leading the practice of warm capitalism in India. Established in 2019, Mirae
Asset Foundation India, like the Mirae Asset Park Hyeon Joo Foundation in
Korea, carrys out contribution activities working with 9 universities in India to
provide scholarship support for university students, support for tuition fees
for youth and children from low-income families and build educational
infrastructure such as educational support for the disabled.
출처: www.koreaittimes.com/news/articleView.html?idxno=118960
2023.01.27