Mirae Asset Global Investments Corporate Overview. September 2016

Transcription

1 Corporate Overview September 2016

2 Table of Contents 1. Corporate Profile 2 2. Our Investment Capabilities Appendix: Awards and the Community 29

3 Corporate Profile

4 Mirae Asset Financial Group Overview Founded in 1997, (MAGI) is the asset management arm and core business of the Mirae Asset Financial Group, one of Asia s leading independent financial services companies Mirae Asset Financial Group Mirae Asset Global Investments Mirae Asset Wealth Management Mirae Asset Life Insurance Mutual Funds / SMAs ETFs Alternative Investments Wealth Management Investment Banking Brokerage Services Life Insurance Variable Insurance Retirement Pensions * Other notable affiliates include Mirae Asset Fund Services and Mirae Asset Venture Capital * Mirae Asset Financial Group acquired Korea s leading brokerage firm KDB Daewoo Securities and its asset management arm in April 2016, rebranded as Mirae Asset Daewoo. 3

5 Our Vision As emerging market experts rooted in Asia with a global perspective, we pursue excellence in investment management to help our clients achieve their long-term objectives. 4

6 : Our Value Proposition Founded in Asia, Positioned Globally We Live Our Investments Home-grown Asian manager with roots in the emerging markets Deep understanding of the markets in which we invest Extensive On the Ground Capabilities to Find Tomorrow s Leaders 150+ on-the-ground professionals managing over US$ 100bn of AUM 12 locations globally in the strategically important markets in which we invest Diversified Product Platform Complete product platform across traditional and alternative asset classes Permanent innovation in seeking high-quality investment solutions for clients Investment Excellence, Recognized Globally Extensive product suite of competitive strategies with established track records recognized globally by Morningstar, Lipper Fund Awards, and Citywire across multiple domiciles Data as of September 30, 2016, unless otherwise stated 5

7 Select Company Milestones 2016 Acquires Multi Asset Global Investments, a leading provider of alternative asset management and advisory services 2016 Wins 2016 Lipper Fund Award for Asia Pacific ex-japan Equity & Best EM Equity Fund Provider (Asian Private Banker) 2015 Boutique Management Group of the Year (Investment Week) and Best EM Equity Fund Provider (Asian Private Banker) 2015 Wins 2015 Lipper Fund Awards for Asia Pacific Equity, Asia Great Consumer & Asia Funds and HXS, HYI, HAC & HGY 2014 Awarded US$ 4.5bn mandate from the Korean Ministry of Land, Infrastructure and Transport 2013 Mirae Asset Private Equity acquires a significant equity position in Coffee Bean & Tea Leaf, US coffee & tea retailer 2013 Horizons ETFs launches HSPX (Horizons S&P500 Covered Call ETF), Horizons first US-listed ETF 2012 BetaShares ETFs launches Australia s first inverse and geared funds listed on the ASX, BEAR and GEAR, respectively 2012 Forms Mirae Asset Huachen Fund Management, Korea s first mainland China asset management JV 2011 Acquires 85% stake in Horizons ETFs Management Inc., one of Canada s leading ETF Providers 2011 Mirae Asset Private Equity completes acquisition of Acushnet, maker of Titleist / Footjoy golf equipment 2011 Forms JV with Taiwan Life Insurance to create (Taiwan) 2010 Launches first US-domiciled funds, Mirae Asset Discovery series 2008 Launches first series of SICAV Luxembourg-domiciled funds 2006 Launches TIGER ETF series 2004 Launches Korea s first Real Estate & Private Equity Funds 2003 Opens first overseas office in Hong Kong 1998 Launches Korea s first mutual Equity fund, Park Hyeon-Joo Fund No founded 6

8 Born in Asia Positioned Globally Our roots are firmly embedded in the dynamic and strategically important markets in which we invest, giving us an extensive network of the industry s leading emerging market investment professionals spanning the globe. 650 Employees 150 Investment Professionals USA CANADA UNITED KINGDOM CHINA KOREA TAIWAN COLOMBIA HONG KONG Office Location Country Presence Distribution Scope BRAZIL INDIA VIETNAM AUSTRALIA Data as of September 30, 2016, unless otherwise stated 7

9 Unique & Independent Asia-based Firm Based on our firm belief that the economic development of emerging markets is fundamental and sustainable, Mirae Asset Global Investments has built extensive on-the-ground, research driven capabilities centered on major emerging economies. As one of the largest investors in emerging markets, our goal is to provide our clients with insightful financial strategies and consistent performance. Unique Heritage Founded in Asia, our roots are in the emerging markets Deep understanding of the cultures and investment dynamics of markets in which we invest Extensive Investment Capabilities Dedicated to Asia and Emerging Markets Over 150 investment professionals focusing on the emerging markets Team based, bottom-up investment approach On-the-ground research coverage of strategically important markets Diversified Investment Platform and Leader in Emerging Market Investments Complete product platform across traditional and alternative asset classes Approximately US$ 100.5bn in worldwide AUM One of the world s largest emerging market equity managers* Data as of September 30, 2016, unless otherwise stated * IPE Survey: EM & Frontier Equities, Investments & Pensions Europe (IPE) in Nov

10 Overview of Assets Under Management Total AUM by Asset Class AUM by Client Type 5% 1% 2% 18% Equity 12% 25% 12% US$ 100.5bn 31% 6% Balanced Fixed Income ETFs Multi Asset/HFs Real Estate Private Equity Infrastructure 23% 65% Institutional Retail ETFs Equity Investment by Market 1) AUM Growth Trend (US$ bn) 23% 120 Emerging Markets 100 Developed Markets ) Includes Korea in EM 77% Data as of September 30, 2016, unless otherwise stated Sep-16 9

11 Fully Diversified Investment Platform is the group s asset management arm and executes the firm s core passion of investing in emerging markets. We work across our complete product platform to generate the most benefit for our clients across 12 markets globally. Total AUM US$ 100.5bn Equity / Balanced Fixed Income ETFs Multi Asset / Hedge Funds Real Estate 1) Private Equity 1) Infrastructure 1) AUM US$22.5bn US$31.2bn US$11.8bn US$25.4bn US$6.2bn US$1.1bn US$2.3bn 1) Total Invested Equity (real estate, private equity and infrastructure) Data as of September 30, 2016, unless otherwise stated 10

12 Pioneer in the Korean Market was the first asset manager to be registered in Korea, in Since then, we have been consistently recognized as the pioneer of the local asset management industry. Our Asian heritage continues today as the leader in not only traditional asset classes such as equity and fixed income funds, but also alternative investments. Market Share of Korea-domiciled Equity Funds by AUM Market Share of Korea-domiciled Fixed Income Funds by AUM 17% 34% Mirae Asset 50% 9% 8% Samsung 14% Samsung Korea Inv. Trust KB AM 8% KB AM Mirae Asset Kiwoom Asset AM Shinyoung AM 7% Tongyang AM Shinhan BNP Paribas Korea Inv. Value AM 4% 4% 8% 9% 10% Korea Inv. Value AM Others 5% 6% 7% Hungkuk AM Others * Data source: KOFIA Data as of September 30, 2016, unless otherwise stated 11

13 Diversified Product Evolution We have aimed to develop innovative investment products that have become leaders in their respective markets. We will continue in our passion to achieve the long-term investment goals of our clients, while pioneering diverse investment opportunities that meet and anticipate their needs. Hedge Funds / Multi-Asset Australia / Canada / HK ETFs SICAV (UCITS) / US Mutual Funds Real Estate / Private Equity Funds Global Fixed Income Funds EM / Asia Equity Funds Mutual Funds Overseas Institutional Mandates Retirement Investment Real Estate Investments Private Equity + ETFs (Smart Beta / Active) Asset Allocation Absolute / Total Return Customized Solutions Hedge Funds / Multi-Asset Income-Oriented 12

14 Our Investment Capabilities

15 Traditional Fund Management US$ 53.7bn in AUM including Funds and SMAs Equity US$ 16.6bn Balanced US$ 5.9bn Fixed Income US$ 31.2bn Since our first fund launch in 1998, we have diversified our line-up by building our global investment network as well as our product breadth. We have now become one of the largest fund managers in Asia on the back of our expertise in emerging market investments. Equity Expertise Fixed Income Expertise Asset Allocation/Quantitative Expertise We have built our expertise in fundamental bottom-up analysis over the years to identity companies with a sustainable competitiveness in their respective markets. This process is differentiated and further enhanced by having on-theground research and investment teams in key markets globally. Our unique approach to fixed income offers a wide array of products on a country, regional and global level. Our broad product base not only leverages our on-the-ground teams of fixed income PMs and analysts but our internally developed proprietary IT platform. Our suite employs various solutions, including proprietary quantitative strategies. Aims to maximize long-term growth through income and capital appreciation by investing in income producing securities Data as of September 30, 2016, unless otherwise stated 14

16 Exchange Traded Funds US$ 11.8bn in AUM Passive US$ 6.5bn Active US$ 4.0bn Leverage/Inverse US$ 1.2bn 198 ETFs across 6 Global Markets We launched our first ETF in 2006 with the goal to provide our investors with cost efficient and diverse investment opportunities. Our global ETF business platform has grown with the acquisitions of Canada-based Horizons ETFs and Australia-based BetaShares ETFs in 2011 and the launch of our first ETFs in the US, HK, and Colombia. A Differentiated Global ETF Franchise Canada Horizons ETFs Hong Kong Horizons ETFs USA Horizons ETFs Colombia Horizons ETFs Korea TIGER ETFs Australia BetaShares ETFs US$ 4.5bn in AUM 76 ETFs One of the World s Largest Active ETF Managers US$ 153m in AUM 7 ETFs Listed first ETF on the HKEX in 2011 Data as of September 30, 2016, unless otherwise stated US$ 65m in AUM 1 ETF Listed first ETF on the NYSE on Jun 24, 2013 US$ 144m in AUM 1 ETF Listed HCOLSEL ETF to replicate S&P Colombia Select Index on May 28, 2014 with Fidubogota US$ 4.6bn in AUM 79 ETFs The Largest Family of ETFs in Korea US$ 2.3bn in AUM 34 ETFs One of the Fastest Growing ETF Managers in Australia 15

17 Real Estate US$ 6.2bn in Invested Equity, $11.6bn Total Asset Value (49 investments to-date, 33 current investments) Aims to provide current income and generate long-term capital growth by investing primarily in core real estate assets, globally. Since launching the first real estate fund in Korea in 2004, we have held the preeminent position in the Korea real estate market. Our global expertise continues the strive to meet our investors specific and evolving needs. As a result, the fund investment decisions made by our team focus on delivering steady and stable returns for clients. Mirae Asset Tower Shanghai, China Mirae Asset Center1 Seoul, Korea 1801 K Street Washington D.C., USA Four Seasons Hotel Seoul, Korea Investment Year: 2006 Size: 85,734m², 31 Floors Landmark Office Tower Located in the Pudong Commercial Business District Investment Year: 2010 Data as of September 30, 2016, unless otherwise stated Size: 168,097m², 36 Floors Landmark Office Towers with a Shopping Arcade Located in the Jongno Business District Investment Year: 2014 Size: 566,293ft 2, 13 Floors Trophy office building occupied by the Federal Reserve Board in Washington D.C. s Central Business District. Investment Year: 2012 Size: 64,377m², 26 Floors Prestigious five-star luxury hotel located at the heart of Seoul s Central Business District 16

18 Private Equity US$ 1.1bn in Capital under management (25 invested companies, 10 current portfolio companies) Aims to achieve returns for our investors by investing in sustainably competitive companies and their world-class management teams. Our strengths in private equity reside in our strong deal pipeline generated through our extensive global and proprietary network. We possess in-depth knowledge of the relevant sectors in which we invest thanks to the cumulative 65 years of investment experience amongst our investment professionals. First-Mover and Market Leader Investment Cases Since the launch of Korea s first private equity fund in 2004, we have built extensive networks with Korean pension funds, government organizations, insurance companies, as well as with strategic investors and buyers. As we have retained our leading market position, companies view Mirae Asset as a strategic investor, providing us with a clear advantage for sourcing proprietary deals Acquired Fila Global with Fila Korea Successful exit via IPO (2010) Joint acquisition of Korean operations with Doosan Successful exit via resale (2012) Our acquisition of Acushnet was 2011 Acquired Acushnet with Fila Korea awarded Best Korea Deal of the Year by Finance Asia in Data as of September 30, 2016, unless otherwise stated 2013 Partnered with global private equity funds (Advent International and CDIB Capital) to acquire majority stake 17

19 Infrastructure US$ 2.3bn in Invested Equity (86 investments to-date, all current) AUM by Geography: 54% International / 46% Korea Aims to achieve returns through income and capital appreciation whilst improving infrastructure crucial to society. We, as the largest Korean investment manager in renewable energy, aim to support social development and welfare through innovative infrastructure projects. Our clients invest in Mirae Asset Infrastructure Funds for the stable cash flow, long-term investment horizon, low market risk and reliable partners. Renewable Energy Build-Transfer-Lease First Fund Launched in 2007 Solar Photovoltaic Plant First Fund Launched in 2006 School and Military Facilities International Infrastructure Build-Transfer-Operate First Fund Launched in 2009 Desalination and Toll Roads First Fund Launched in 2007 Water Treatment Facility Data as of September 30, 2016, unless otherwise stated 18

20 Mirae Asset Global Investments (India) Pvt. Ltd. 19 Corporate Overview DD/MM/YYYY Mirae Asset Financial Group

21 Mirae Asset India Mirae Asset present in India as an FII since 2004* Established in November 2007 with a seed capital of US$ 50 million** Mirae Asset Mutual Fund is sponsored by Co. Limited, South Korea Mix of domestic and International businesses providing stable growth for Mirae Asset India business Dedicated Team of Asset managers who help clients achieve their Financial Goals Provides Advisory Services to Hong Kong and Korea offices** Mirae Asset Group s Funds investments in India Equity Instruments are 1,646 million USD and in Fixed Income instruments 288 million USD. (as on 30 th September, 2016) Source: * The FII activities are operated from Korea & HK and Mirae Asset India Office does not have any connection with respect to management of such funds. ** (India) Pvt. Ltd. 20 Corporate Overview Aug 2016 Mirae Asset Financial Group

22 Mirae Asset India Mirae Asset Group s Funds investments in India Equity Instruments are 1,646 million USD and in Fixed Income instruments 288 million USD. (as on 30 th September, 2016) Equity Investment by Region (ex. Korea) Fixed Income Investment by Region (ex. Korea) United States China + HK India Australia Japan United Kingdom Germany Brazil Indonesia Others 1% 1% 3% 4% 4% 5% 15% 11% Total AUM USD 11.15bn 28% 28% United States India Russia Brazil China + HK Luxembourg Mexico Ireland Turkey Others 3% 3% 27% 4% 4% 4% Total AUM USD 4.04bn 5% 5% 7% 38% Data as on September 30 th, (Ex. Korea) 21 Corporate Overview Aug 2016 Mirae Asset Financial Group

23 India : Business Growth In Cr s 6,000 5,000 As on 31 st Oct 2016 Equity 6,056 crores Fixed Income 468 crores Total AUM 6,524 crores 4,000 3,000 2,000 1,000 0 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Oct 2016 Mirae Asset Financial Group

24 Apri 10 Jun 10 Aug 10 Oct 10 Dec 10 Feb 11 Apr 11 Jun 11 Aug 11 Oct 11 Dec 11 Feb 12 Apr 12 Jun 12 Aug 12 Oct 12 Dec 12 Feb 13 Apr 13 June 13 Aug 13 Oct 13 Dec 13 Feb 14 Apr 14 June 14 Aug 2014 Oct 2014 Dec 2014 Feb 2015 April 2015 June 2015 Aug 2015 Oct 2015 Dec 2015 Feb 2016 Apr 2016 June 2016 Aug 2016 # Folios Robust Investors & SIP Trend 350, ,000 Total Investors SIP Investors SIP Monthly Book 250,000 Sept ,268 Sept ,537 Sept 15 46,358 Sept ,201 Sept crores Sept crores 200, , ,000 50,000 0 Lumpsum Count Sip Count 23 Document name DD/MM/YYYY Mirae Asset Financial Group

25 Our Investment Offerings Equity Schemes Mirae Asset India Opportunities Fund (MAIOF) (An open ended equity oriented scheme) Mirae Asset Emerging Bluechip Fund (MAEBF) (An open ended equity fund) International/Thematic Schemes Mirae Asset Great Consumer Fund (MAGCF) (An open-ended consumption oriented sector scheme) Mirae Asset China Advantage Fund (MACAF) (An open ended fund of funds scheme) Hybrid Scheme Mirae Asset Prudence Fund (MAPF) (An Open Ended Equity Oriented Asset Allocation Scheme) Tax Saving Scheme Mirae Asset Tax Saver Fund (MATSF) (An open ended equity linked saving scheme with a 3 year lock-in period) 24 l Corporate Overview Aug 2016 Mirae Asset Financial Group

26 Our Investment Offerings Fixed Income Schemes Mirae Asset Cash Management Fund (MACMF) (An open ended liquid scheme) Mirae Asset Savings Fund (MASF) (An open ended debt scheme) 25 l Corporate Overview Aug 2016 Mirae Asset Financial Group

27 Appendix: Awards and the Community

28 Select Awards Best Fund Provider Emerging Market Equity for (Hong Kong) By Asian Private Banker Asset Management Awards for Excellence 2016 Citywire Singapore & Hong Kong Group Award: Equity- India By Citywire 2016 Asset Manager of the Year (Korea) By Asian Investor 2016 Best International Fixed Income Manager (Korea) By Asian Investor 2016 ETF Manager of the Year (Korea) By Asian Investor 2016 Regional Asset Management Awards for Korea By Asian Investor 2016 Best Fixed Income Manager (Korea) By Morningstar Korea 2016 Triple A Awards, Australia s Best ETF Provider (BetaShares) By The Asset Best Asia Pacific ex-japan Equity Fund for Mirae Asset Asia New Wealth Fund By 2016 Lipper Fund Awards (Taiwan), Over 3 Years Best New ETF for Australia (BetaShares) By ETFI Asia and Asia Asset Management ETF and Indexing Country Awards 2016 Best Currencies & Currency Hedged ETF By ETFI Asia and Asia Asset Management ETF and Indexing Country Awards 2016 Best High Dividend ETF By ETFI Asia and Asia Asset Management ETF and Indexing Country Awards Korea Fund Award - Best ETF Manager By Korea Economic Daily 2016 Asia Fund Award - Best ETF By Asia Economic Daily 27

29 Select Awards 2014 to Boutique Management Group of the Year Investment Week Specialist Investment Awards 2015 Best Fund Provider Emerging Market Equity for (Hong Kong) By Asian Private Banker Asset Management Awards for Excellence 2014/2015 Best Pacific ex-japan Equity Fund for Mirae Asset Asia Fund By 2015 Lipper Fund Awards (US), Over 3 Years Best Equity Asia Pacific ex-japan Equity Fund for Mirae Asset Asia Pacific Equity Fund By 2015 Lipper Fund Awards (HK), Over 3 Years Best Asia Pacific ex-japan Equity Fund for Mirae Asset Asia Great Consumer Equity Fund By 2015 Lipper Fund Awards (Taiwan), Over 3 Years 2015 Best Fixed Income Manager (Korea) By Asian Investor 2015 Best Fixed Income Manager (Korea) By Morningstar Korea ETF Manager of the Year Australia (BetaShares) By ETFI Asia and Asia Asset Management ETF and Indexing Country Awards 2015 Best High Dividend Fund for Australian Dividend Harvester Fund (HVST) By ETFI Asia and Asia Asset Management ETF and Indexing Regional Awards Best Fixed Income ETF for Horizons Active Preferred Share ETF (HPR) By 2014 Morningstar Canadian Investment Awards Best Equity ETF for Horizons Active Global Dividend ETF (HAZ) By 2014 Morningstar Canadian Investment Awards Best U.S. Equity ETF for Horizons S&P 500 Index ETF (HXS) By 2014 Lipper Fund Awards (Canada), Over 3 Years Best Commodity ETF for Horizons NYMEX Crude Oil ETF (HUC) By 2014 Lipper Fund Awards (Canada), Over 3 Years 28

30 Select Awards 2013 to Best Fixed Income Manager (Korea) By Morningstar Korea 2014 Triple A Awards, Best Asian ETF Provider By The Asset 2014 Best Fixed Income Manager (Korea) By Maeil Economic Daily 2014 Best ETF Manager (Korea) By Asian Investor 2014 Best Equity Fund Award for Mirae Asset Asia Great Consumer Fund By Herald Economy 2014 Best Equity Fund Award for Mirae Asset Global Great Consumer Fund By Korea Economic Daily Korea Fund Awards & Maeil Economic Daily Korea Fund Awards Winner of FundGrade A+ for Horizons S&P 500 Index ETF (HXS) By 2014 FundGrade A+ Awards Winner of FundGrade A+ for Horizons Active Corporate Bond ETF (HAB) By 2014 FundGrade A+ Awards Best Pension Fund Manager (Korea) By Asia Asset Management Best of the Best Awards 2013 ETF Manager of the Year Award (Korea) By Asia Asset Management Best of the Best Awards 2013 Best Asset Management Company in Korea By Seoul Economic Daily 2013 Best ETF Manager (Korea) By Asian Investor 29

31 Select Awards 2010 to Best Overseas Fixed Income Manager (Korea) By Asian Investor 2013 Asia Fund Award, Best ETF Fund for Tiger 200 ETF By Asia Economic Daily Best Fixed Income ETF for Horizons Active Floating Rate Bond ETF (HFR) By 2013 Morningstar Canadian Investment Awards Asia Fund Award, Best Fixed Income Fund By Asia Economic Daily BetaShares US Dollar ETF awarded 2012 Best of the Best, Best innovative product of the year By Money Magazine Horizons Morningstar Hedge Fund Index ETF awarded 2012 Best ETF Innovation Award By William F. Sharpe Best Retail House (Korea) & Best House for Offshore Funds By Asia Asset Management Best of Best Awards Chairman Hyeon Joo Park awarded The Best Financier award By KOFIA (Korea Financial Investment Association) Best Korea Deal of the Year ( Acushnet ) By Finance Asia 2010 Harvard Business School selects Mirae Asset Chairman Hyeon Joo Park for a case study 30

32 Investor Education A wide variety of client service and educational tools - Our clients success is our success As an effort to listen to the voices and respond to the needs of our clients, Mirae Asset currently has dedicated teams and specialized programs concentrating on service support and education. Mirae Asset Retirement Research Institute As a specialized department focusing on publications and educational research, the Mirae Asset Retirement Research Institute has published various books which include translations of some of the world s most renowned authors. It also offers the Emerging Investor (see picture), a bi-monthly magazine that contains in-depth information, current trends, issues, and news focused on emerging markets. It also carries out educational activity programs for children and their parents all around the country. 31

33 Social Responsibility Creating a Better World Mirae Asset has supported more than 4,000 students since Through various platforms which include the Park Hyeon Joo Foundation and Mirae Asset Scholarship Program, we will continue expanding our efforts in creating a better world for the children, our clients, and the society. The Park Hyeon Joo Foundation Named after the chairman of Mirae Asset, the Park Hyeon Joo Foundation highlights our determination to give back to the community. First founded in 2000, the foundation has granted over USD 8 million in We have plans to further increase the budget to foster young talent through scholarships, social welfare, and educational programs. Scholarships: Investing in tomorrow s leaders The Global Investor Scholarship Program and Global Exchange Scholarship Program provide students that require financial aid with the opportunity to study at the world s leading schools. By offering grant to offset tuition fees, living expenses, freight, and airfare, it allows students to concentrate on academic research. Although there are no obligations for the recipients, Mirae Asset hopes that this program will help attract more young talents to the field of investment. 32

34 Product Labelling 33 Corporate Overview Aug 2016 Mirae Asset Financial Group

35 Product Labelling Mutual fund investments are subject to market risks, read all scheme related documents carefully Mirae Asset Financial Group

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