Mirae lines up Asia-Pacific range

Mirae Asset Global Investments is looking to launch nine emerging market SICAV funds targeting the Asia-Pacific region.

The Luxembourg-domiciled funds will aim to provide long-term capital growth through bottom-up analysis and high conviction, alpha-generating stockpicking.

Slated for launch in two stages in June and July, the SICAV range will mirror Mirae Asset's existing Korean-domiciled funds, and will be managed by the same local portfolio managers.

Hendrik Cosijn von Ripperda and Andrew Lawley, recently appointed as head of European (ex-UK) distribution and head of UK distribution and global consultant relationships respectively, will have a vital role in implementing the launch of the nine funds.

The full fund range comprises: the Asia Pacific Equity fund, the Asia Sector Leader Equity fund, the Asia Pacific Consumer Equity fund, the Asia Pacific Infrastructure Equity fund, the Asia Pacific Financial Equity fund, the China Sector Leader Equity fund, the India Sector Leader Equity fund, the Chindia Sector Leader Equity fund and the Korea Equity fund.

Mirae Asset opined that the fundamentals for investing in the Asia Pacific region remain sound in the medium to longer term, with earnings growth anticipated to be far stronger than that of the developed world. Mirae Asset cited the key drivers as being: industrialisation and urbanisation, inflows of liquidity from overseas, rapidly-developing domestic demand and highly favourable demographics across the region.

Chunyong Rhie, chief executive of Mirae, commented: "The launch of these Asia Pacific SICAV funds marks a significant milestone in the expansion of Mirae Asset in the UK. Our existing Korean domiciled funds have provided outstanding returns for our clients, and we are delighted to now offer our successful investment formula to European investors.

"We aim to build our European business by applying the same principles that contribute to our success in Asia, focusing on building long-term value for our clients through bottom up stock selection, an innovative and dynamic culture and adhering to proven fundamental business principles."