Mirae Asset and Daiwa Asset Management Launches Mirae Asset Next Asia Pacific Equity Fund
First co-managed fund aims to capture long-term growth opportunities across Asia-Pacific
Hong Kong and London -- (November 2, 2015) - Mirae Asset Global Investments (Hong Kong) Limited ("Mirae Asset Global Investments"), announced the launch of the Mirae Asset Next Asia Pacific Equity Fund (the "Fund"), which is its first product to be co-managed with Daiwa Asset Management Co. Ltd. ("Daiwa Asset Management").
The Fund seeks to achieve long-term capital growth by investing in Asia Pacific including Japan equities in multiple industries which are expected to benefit from long term trends in the region. Investor appetite for Asian Pacific equities is steadily increasing as the region continues to achieve greater economic integration and open trade, while long term trends such as the growth of a burgeoning middle class and upgrades in economic efficiency and liberalization achieved by new administrations in several Asian countries underpin strong structural tailwinds for long term growth.
The Fund is managed by Masaki Takebayashi, Senior Portfolio Manager at Daiwa Asset Management, and Joohee An, Senior Portfolio Manager at Mirae Asset Global Investments. The portfolio managers leverage the two companies' extensive on-the-ground research presence of 138 investment professionals in the Asia Pacific including Japan region. The collaborative investment process is driven by fundamental bottom-up research analysis and high conviction stock selection.
Jung Ho Rhee, Chief Executive Officer at Mirae Asset Global Investments said: "We are excited to partner with Daiwa Asset Management, which is one of Japan's largest asset managers. Both Daiwa Asset Management and Mirae Asset Global Investments possess excellent track records in managing Japanese and emerging market equities, respectively. We will work together seamlessly to achieve alpha by leveraging our breadth and depth of local market insights."
"With greater levels of trade liberalization and economic integration, Asia Pacific including Japan has potential to be viewed as a single region for asset allocation by investors. The region continues to show dynamism and is rapidly becoming one of the world's largest and most populous consumer markets. Growth in the investible universe of companies and improvements in corporate governance means that the region is becoming more accessible for investors looking for diversified investment opportunities."
Daiwa Asset Management and Mirae Asset Global Investments have a long-standing partnership. Since 2010, both companies jointly distributed 14 funds together in Korea and Japan, ranging from single country funds, thematic funds, a dividend equity fund and a fixed income fund. Daiwa Asset Management and Mirae Asset Global Investments aim to launch the Fund in a wide range of markets, including countries in Asia and Europe.
The Mirae Asset Next Asia Pacific Equity Fund is a Sub-Fund of the Mirae Asset Global Discovery Fund SICAV, a Luxembourg-domiciled UCITS. It will be registered for public distribution in selected jurisdictions in Asia and Europe and will be made available to both retail and institutional investors.
About Mirae Asset Global Investments Group
Launched in 1997, Mirae Asset Global Investments Group has over 120 investment professionals focusing on emerging market portfolio construction. As of end September 2015, Mirae Asset manages over US$73 billion in client assets, spread across the full spectrum of asset classes and investment solutions.. This makes us one of the world's largest managers of emerging market equities. We focus on actively managed, high-conviction emerging market portfolios through a bottom-up investment process rooted in team-based on-the-ground research. Mirae Asset has offices across regions worldwide, including in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the United Kingdom the United States, and Vietnam.
About Daiwa Asset Management
Daiwa Asset Management Co. Ltd. is a fully owned subsidiary of "Daiwa Securities Group Inc.". Daiwa Asset Management Co. Ltd. has been operating since 1959, and is the second-largest asset management company in Japan based on assets under management of publicly offered investment trusts. As the end of September 2015, we manage over 550 funds, with an AUM of US$125 billion across various asset classes. Daiwa Asset Management maintains its offices in the United Kingdom, Hong Kong, the United States, Singapore and India along with a branch office in Shanghai. Daiwa Asset Management has exceptional track record in Asian equities including Japanese equities and global bond funds. We have extensive experience in the asset management business and we manage outstanding professional teams to achieve our goals.
Theresa Yu, Corporate Communications Manager
Tel: +852 3555 5745
- Source: One of the largest investors in emerging market equities amongst 79 asset management firms surveyed by Investment & Pensions Europe ("IPE Survey: Managers of Emerging Market & Frontier Equities," 31 January 2014).