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Tuesday, May 31, 2011

Mirae Lands on OneSource

Reported by Armie Margaret Lee

Emerging markets specialist Mirae Asset Global Investments [see profile] has inked a distribution pact with Charles Schwab Corp. New York-based Mirae's Discovery Funds mutual fund family now appears on the shelves of Schwab's OneSource supermarket.

Mirae launched six mutual funds last year.

Three months ago, the funds became available through Pershing's FundVest platform, according to a company spokeswoman. The funds are also available through regional broker-dealer Morgan Keegan.
Company Press Release

Mirae Asset Discovery Funds Now Available at Charles Schwab & Co.

New York, NY (May 31, 2011) — Emerging markets leader Mirae Asset Global Investments (“Mirae Asset”) today announced that the Mirae Asset Discovery Funds, the firm’s suite of six emerging markets mutual funds offered in the U.S., is now available at Charles Schwab & Co.

"As we expand our U.S. presence, being on Charles Schwab's platform represents an important step for our firm. We're pleased that the more than 6,000 registered investment advisors who custody with Schwab will have access to Mirae Asset’s emerging markets expertise," said Jay (Hun Jun) Jang, President and CEO of Mirae Asset Global Investments (USA) LLC. "Our Funds offer investors a broad opportunity to invest in the markets, which we believe are well-positioned to take advantage of future global economic growth."

The Mirae Asset Discovery Funds include single-country, regional and global emerging market funds deployed according to two investment themes: Great Consumer and Sector Leader. The Great Consumer funds invest in companies across a range of sectors that seek to benefit from increasing domestic consumption in the emerging markets. In the Sector Leader funds, Mirae Asset seeks companies it believes to be capable of achieving or maintaining a dominant position within their respective industries. Two of the Funds’ three share classes are offered through Charles Schwab & Co. A list of the ticker symbols for the Class A and Class I shares of the Mirae Asset Discovery Funds appears below:

  • Global Emerging Markets Great Consumer Fund (MECGX, MICGX)
  • Asia Great Consumer Fund (MGCEX, MGCIX)
  • Global Emerging Markets Sector Leader Fund (MALGX, MILGX)
  • Asia Sector Leader Fund (MALAX, MILAX)
  • China Sector Leader Fund (MALCX, MELCX)
  • Brazil Sector Leader Fund (MALBX, MILBX)

    Mirae Asset Global Investments

    Mirae Asset Global Investments is one of the world’s largest investment managers in emerging market equities (source: Investment & Pensions Europe, 2011). With over 520 employees including more than 110 dedicated investment professionals, Mirae Asset portfolio management teams are located in Brazil, China, Hong Kong, India, Korea, the U.S. and Vietnam. Headquartered in Seoul, South Korea, the firm manages over $53 billion in assets globally, of which more than $29 billion is invested in emerging market equities (as of December 31, 2010). Mirae Asset Global Investments (USA) is focused on providing emerging market equity investment advisory services to mutual funds, foreign investment trusts and institutions. www.miraeasset.com
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