Mirae Asset Global
Investments [profile] just brought its fixed income expertise to the U.S. Today
the New York City-based U.S. arm of the Korean asset management giant revealed its
new Global Dynamic Bond Fund, Mirae's first bond fund in the U.S.
"The Global Dynamic Bond Fund introduces Mirae Asset's fixed income investing
capability to the U.S. market," stated Peter Graham, presidnent of the
Mirae Asset Discovery Funds. "This new fund responds to fund investors' renewed
focus on global bonds as a potential source for income."
The new fund, which hit the market on February 29, offers A, C and I shares.
Mirae boasts more than $50 billion in assets worldwide, including $14.2 billion in
fixed income assets.
Company Press Release
March 6, 2012, 10:00 a.m. EST
Mirae Asset Global Investments Launches Global Dynamic Bond Fund
Emerging Markets Expert Expands Mutual Fund Lineup With Its First Fixed Income
NEW YORK, Mar 6, 2012 -- Mirae Asset Global Investments, one of the world's
largest emerging market equity investment managers,1 today announced the launch of
the Global Dynamic Bond Fund. This new mutual fund invests in sovereign, quasi-
sovereign and corporate bonds from issuers in both emerging and developed markets.
The fund seeks to achieve total return, and seeks capital preservation as a
secondary objective, utilizing an asset allocation investment strategy.2 The New
York-based portfolio management team is supported by Mirae Asset's fixed income
resources globally. The fund's investment approach allows the portfolio manager to
adjust portfolio exposure according to the conclusions of the team's macroeconomic
"The Global Dynamic Bond Fund introduces Mirae Asset's fixed income investing
capability to the U.S. market," said Peter Graham, President of the Mirae Asset
Discovery Funds. "Similar to our equity offerings, the Global Dynamic Bond Fund
offers U.S. investors a tool to access Mirae Asset's expertise in the emerging
markets. This new fund responds to fund investors' renewed focus on global bonds
as a potential source for income."
The Mirae Asset Global Dynamic Bond Fund was launched on February 29, 2012 with
ticker symbols MAGDX (Class A); MCGDX (Class C); and MDBIX (Class I).
Fixed Income at Mirae Asset Global Investments
Mirae Asset Global Investments has $14.2 billion in fixed income assets under
management (AUM) in both emerging market bond and global bond asset allocation
strategies and has been offering non-U.S. investors fixed income strategies since
Mirae Asset's Approach to Fixed Income
In pursuing total return, the fund invests in issues from both emerging and
developed markets, across a range of fixed income sectors and credit strata. Mirae
Asset believes the market gives identifiable signals for making tactical shifts in
risk exposure. Based on this investing philosophy, the Global Dynamic Bond Fund is
actively managed with an asset allocation approach, positioning the portfolio
according to a constant evaluation of global market conditions. Specifically, the
fund targets bond sectors with risk-return profiles that are lower in times of
market turmoil and higher in more robust markets. At times when Mirae Asset
considers global market conditions supportive of exposure to higher risk/return
securities, the fund diversifies across these four sectors: (1) hard-currency
denominated emerging market sovereign debt and quasi-sovereign debt; (2) local-
currency denominated emerging market sovereign debt; (3) hard-currency denominated
emerging market corporate bonds; and (4) global high yield bonds. When
macroeconomic indicators suggest riskier markets, however, the portfolio will seek
to protect capital in what Mirae Asset considers "defensive" fixed income sectors,
typically U.S. Treasury issues and high-quality, hard-currency government and
corporate issues from developed market issuers. During normal market conditions,
the fund's holdings are expected to be investment grade, although the fund can
purchase high-yield securities as well.
Risks: ASSET ALLOCATION - The Fund's ability to achieve its investment objective
will depend, in part, on the Investment Manager's ability to select the best
allocation of assets across the various developed and emerging markets. There is a
risk that the Investment Manager's evaluations and assumptions may be incorrect in
view of actual market condition. CREDIT - The issuer of a fixed income security,
or the counterparty to a contract, such as swaps or other derivatives, may become
unable or unwilling to meet its financial obligations. Various market
participants, such as rating agencies or pricing services, also may affect the
security by downgrading the credit of the issuer of the security, which may
decrease the value. DERIVATIVE -- The Fund may utilize derivatives for hedging
purposes, to enhance returns or to obtain exposure to various market sectors. The
risks of derivatives include liquidity, interest rate, market, credit and
management risks. The instrument may be also mispriced or improperly valued, and
the Fund could lose more than the principal amount invested. Unpredictable or
rapid changes in the currency markets could also negatively affect the value of
currency derivatives, such as currency forward/futures contracts. Derivatives also
may give rise to increased leverage, and the Fund may become more volatile to
market changes. The extent and impact of potential new regulation regarding the
derivatives markets is not yet known and may not be known for some time. Such
regulation may make derivatives more costly, may limit the availability of
derivatives, or may otherwise adversely affect the value or performance of
derivatives. FOREIGN SECURITIES - Foreign investments may be subject to different
and, in some cases, less stringent regulatory and disclosure standards than U.S.
investments. Also, political concerns, fluctuations in foreign currencies and
differences in taxation, trading, settlement, custodial and other operational
practices may result in foreign investments being more volatile and less liquid
than U.S. investments. Foreign regulatory and fiscal policies may affect the
ability to trade securities across markets. Foreign markets also may differ widely
in trading and execution capabilities, liquidity and expenses, including brokerage
and transaction costs. Brokerage and transaction costs generally are higher for
foreign securities than for U.S. investments. Foreign investments typically are
issued and traded in foreign currencies. As a result, their values may be affected
significantly by changes in exchange rates between foreign currencies and the U.S.
An investor should consider the Fund's investment objectives, risks, charges and
expenses carefully before investing. This and other important information about
the investment company can be found in the Fund's prospectus. To obtain a
prospectus, please contact your financial advisor or please call 1-800-335-3412.
Please read the prospectus carefully before investing.
The Mirae Asset Discovery Funds are distributed by Funds Distributor, LLC.
Mirae Asset Global Investments
Mirae Asset Global Investments offers a breadth of emerging market expertise with
over 700 employees, including more than 135 dedicated investment professionals.
Mirae Asset has offices in Brazil, Canada, China, Hong Kong, India, Korea, Taiwan,
the U.K., the United States and Vietnam. Headquartered in Seoul, the firm manages
over $50 billion in assets globally (as of December 31, 2011). Mirae Asset Global
Investments (USA) provides investment advisory services to mutual funds, foreign
investment trusts and institutions.
( www.miraeasset.com )
The Mirae Asset Global Investments (USA) LLC logo is available at
1Source: Investment & Pensions Europe. January 2012.
2 Investing involves risk including the possible loss of principal and there can
be no assurance that any investment strategy will be successful.
SOURCE: Mirae Asset Global Investments (USA) LLC