Korean fund house Mirae Asset eyes Rs 1.5 trillion AUM by December
Mirae Asset Investment Managers India hopes to close the current year with an AUM of Rs 1.5 lakh crore, up from Rs 1.20 lakh crore in December 2022, on the back of aggressive growth in systematic investments plans and its forte of equity-linked funds.
Mirae Asset is the only Korean fund operating in the country and since its entry in 2008, it has grown to become the 12th largest fund house in the country with an AUM of Rs 1.16 lakh crore as of February 2023.
Mirae Asset is fully-owned by the Mirae Financial Group of Seoul that globally manages over USD 225 billion assets.
Mirae, whose large-cap fund has an AUM of over Rs 30,000 crore, and an emerging fund with Rs 24,000 crore, has two subsidiaries in the country -- wealth management and a zero-brokerage equity broking arm.
As much as 90 per cent of its AUM are deployed in active equity funds, while the passive funds constitute Rs 3,000 crore, Swarup Mohanty, the chief executive of the fund house, told PTI.
"We're seeing good tract