Tue, Jul 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Mirae Asset Korea Equity Fund awarded 'AA' rating by Standard & Poor’s

Monday, February 28, 2011
Opalesque Industry Update - Mirae Asset Global Investments Group, one of Asia’s leading asset-management companies, today announces that its Korea Equity Fund has been awarded ‘AA’ status by rating agency Standard & Poor’s.

The Mirae Asset Korea Equity Fund aims to achieve long-term capital growth by investing mainly in equities and equity-related securities of companies domiciled in or exercising a large portion of their economic activity in Korea. The Fund has been run by Sung Woo Kim on the back of a team approach. Mirae Asset Global Investments has a 15-strong Korean research team and an investment strategy committee (ISC) comprised of nine senior investment professionals, including Kim, with an average of 16 years' experience.

The Fund is top-decile in its peer group and has generated a 94.3% return since its inception in September 2008. By comparison, its benchmark, the KOSPI index has returned 48.4% over the same period. It has USD 171.9 million dollars in assets under management.

S&P explains the Fund’s upgrade, “Success has been founded on good security selection within the model portfolio but Kim has shown his ability to add value above that. The disciplined process and well-resourced and experienced team have produced a strong track record.”

The Fund’s portfolio contains mainly mid and large-cap growth stocks and currently has 29 holdings. The investment approach is bottom-up, focusing on the sustainable competitiveness and attractive risk/reward ratios of companies, but recognises that top-down views can play an important role at times. The top three sector holdings are currently materials, information technology and industrials (as of 31st December 2010). On a company basis, the Fund favours LG Chem, Samsung Electronics and Samsung Techwin.

Elliot Berman, Mirae Asset’s head of sales for EMEA comments: “We are delighted that the the Fund’s outstanding performance has been officially recognised by S&P with this rating upgrade. The Fund has outperformed convincingly, in both rising and falling markets and in spite of volatile conditions, and Sung Woo Kim and his team have consistently delivered added value to our investors.”

Commenting on the outlook for Korea, Sung Woo Kim, manager of the Mirae Asset Korea Equity Fund said: “Recently, Korea and other emerging markets have experienced a correction due to worries about inflation and temporary capital outflows from emerging markets. However, we believe that as time goes by investors will start to focus again on the underlying strength and solid growth potential of emerging market economies.. This will eventually lead to further growth of the Korean equity market. We also maintain our bullish view on the Korean equity market from a long term perspective due to our strong confidence in the increased competitiveness of Korean companies.”

About Mirae Asset Global Investments (UK)

Mirae Asset Global Investments (UK) is a wholly-owned subsidiary of the Mirae Asset Financial Group, and is authorised and regulated by the Financial Services Authority.

Since 1997, Mirae Asset Global Investments has become one of Asia's largest independent asset managers and the world’s largest active investor in Emerging Market equities. Globally, the firm recorded in excess of USD53 billion of assets under management as of December 2010.

Headquartered in Korea, the Mirae Asset Global Investments Group has a presence in Seoul, Hong Kong, Mumbai, Vietnam, Shanghai, London, New York and Sao Paulo. The Mirae Asset team includes 170 investment professionals (as of Oct 2010) dedicated to asset management in Asia and other emerging markets. Corporate website: www.miraeasset.co.uk

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. FinTech - The machines are coming... Elon Musk's grim warning, Tezos' $232 million ICO may just be the beginning, A gentle introduction to Initial Coin Offerings (ICOs), Billion dollar tokens, ICOS & crazy market swings WTF is going on!?, How AI is changing the way we invest, How the tech revolution is bringing flip-flops and beanbags to Wall Street, A 'machine-learning' approach to venture capital[more]

    The machines are coming... Elon Musk's grim warning From Tenplay.com.au: Tesla chief Elon Musk has called on US Governors to take 'decisive' action to curtail "the greatest risk we face as a civilization": Artificial Intelligence, or AI. Speaking at a meeting of the National Governor Ass

  2. News Briefs – Sears inks $200 million credit line from CEO Eddie Lampert's hedge fund, shares jump 9%, Rwanda: Global hedge fund to increase investments[more]

    Sears inks $200 million credit line from CEO Eddie Lampert's hedge fund, shares jump 9% Sears Holdings has landed a fresh line of credit, valued at $200 million, from its CEO Eddie Lampert's hedge fund, the retailer said Monday. Sears' stock climbed about 9 percent higher Monda

  3. Despite current limits, robo-advisors will be preferred investment solution for retail, gain importance for affluent and high net worth[more]

    Matthias Knab, Opalesque: Flynt, a Swiss FinTech focusing on proprietary technology platform for private and institutional clients, has published a brief paper on "Investing in the world of robo-advice and passive instruments". As investors will become more reluctant to pay for investment advi

  4. Investing - Hedge fund CQS favors structured credit, Direct lending funds' fading all-weather appeal, Funds hunt for cracks in most-prized US shopping malls[more]

    Hedge fund CQS favors structured credit From BArrons.com: A hedge fund manager that can invest across the investment landscape says in his latest semi annual report this week that he's finding opportunities in structured credit -- particularly the shorter term, floating rate kind. Exampl

  5. Launches - Bitcoin hedge fund launches ethereum-subscribed ICO investment vehicle, Jersey players institutionalize first regulated crypto-currency hedge fund[more]

    Bitcoin hedge fund launches ethereum-subscribed ICO investment vehicle From Coindesk.com: The operators of a regulated, Jersey-based bitcoin hedge fund have officially closed a new $5 million fund aimed at investing in cryptocurrency tokens and initial coin offerings (ICOs). Backed by fun