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Mirae (MRAE)
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Mirae Asset Buys 10-Year Korea Bonds on Slower Economic Growth
Bloomberg  Dec 2  Comment 
Mirae Asset Global Investments Co., South Korea’s biggest asset manager, said it added to holdings of 10-year government bonds, predicting the global financial crisis will keep curbing economic growth and inflation.
China Stocks to Rebound as Economy, Profits Revive, Mirae Says
Bloomberg  Nov 30  Comment 
Mirae Asset Global Investments Co., the world’s second-biggest investor in emerging-markets equities, expects Chinese stocks to rebound from their worst week in three months, and to keep rising next year as earnings gain.
More foreign broking cos queue up for India entry
The Economic Times  Nov 25  Comment 
StanC, Barclays, DBS, Mirae among cos looking for a footprint in the equity capital market.
Investors Should ‘Overweight’ Equities, Mirae Says
Bloomberg  Nov 11  Comment 
(Update1) Investors should be “overweight” in equities amid signs of economic recovery in the U.S. and Asia and as corporate earnings improve, according to Mirae Asset Securities Co.
Indian Rates, Stimulus May Be ‘Dampener’ for Stocks, Mirae Says
Bloomberg  Nov 10  Comment 
Indian shares are “priced for perfection,” and accelerating inflation and the withdrawal of some of the government’s stimulus measures may weigh on the stock market, Mirae Asset Global Investment said.
It's better to focus on large-size mid-caps firms: Neelesh Surana, Senior Fund Manager Equity, Mirae Asset Global Investment India Ltd.
The Economic Times  Nov 3  Comment 
Neelesh Surana, Senior Fund Manager Equity, Mirae Asset Global Investment India Ltd. in an ET Now interview said since market is trading at around 14 to 15 times FY 11 earnings, its better to remain fully invested. Excerpts:
South Korea GDP Affirms Mirae’s Optimism on Shares of Exporters
Bloomberg  Oct 26  Comment 
The rebound in South Korea’s economy, which grew last quarter at the fastest pace in seven years, is “very positive” for the stock market and exporters, the country’s biggest seller of mutual fund products said.
Korean Equities May Rebound by Year-End, Mirae Says
Bloomberg  Oct 14  Comment 
(Update1) South Korea’s benchmark Kospi index may rebound as the nation’s stocks are cheap and the outlook for earnings is improving, the country’s biggest seller of mutual fund products said.
INTERVIEW - Mirae Asset sets sights on U.S., China
Reuters  Oct 6  Comment 
Mirae Asset Global Investments, South Korea's biggest money manager, is on course to register its funds in the U.S., while aiming to increase investments in the still-rallying Chinese markets, a senior executive said.
Mirae Agrees to China Venture
Wall Street Journal  Sep 22  Comment 
South Korean financial conglomerate Mirae Asset Financial said it has agreed to form a Chinese mutual-fund joint venture.
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MRAE AT A GLANCE
 
 
 
 
 
 
 
 

Mirae Asset Securities Company is a member of Mirae Asset Financial Group. The Group, led by founder Park Hyeon Joo, gained success originally from combining a low-risk mutual fund product targeted for low-risk-taking Korean middle class, who traditional invested their money in savings accounts rather than in the equity markets. This mutual fund had a built in sharebuilder-type system of contributing a set amount for a certain period of time. This is taking advantage of both the financial expertise of professionals who managed the fund and Korean's desire to earn more than savings percentages. Mirae Asset Securities has four basic financial products: Wealth Management, Investment Banking, Pension Retirement and Brokerage Services. It currently has offices around the globe in 11 countries.

In 2008, even when the Euro-zone economy was realizing steep on balance sheet contributions to valueless mortgage backed securities, it was able to attract successful European financial business developer Elliott Berman to work for them. Mirae made bolder fores in 2008. It won qualified foreign institutional investor (QFII) license from the China Securities Regulatory Commission. This license allows Mirae to invest in RMB-denominated stocks and bonds in China. And it opened a rupee-based fixed-income fund.

In October of 2008, Mirae lost the title of being the top asset manager for South Korea to Samsung Asset Management. The rivals have been switching back and forth on the top position for several years. Mirae is known for navigating investors through the equity markets. But due to the increased volatility of the equity markets, investors pulled money out of Mirae and invested in money market funds at Samsung. At the same time, JP Morgan downgraded Mirae from underweight to oveweight.

Mirae is not always an optimist. in September 2008, while it was opening various currency funds and had the great success of attracting financial business developer, Elliott Berman, onto its staff, it cut China Guangzhou Shipyard International Co. Ltd to 6.97% from the previous 7.03%.




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