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Mirae Asset Global Investments Utilises Solactive indexes for China Biotech ETF and China Electric Vehicle ETF in Korea


Mirae Asset Global Investments has signed a licensing agreement with Solactive to utilise two already-licensed Solactive indices, the Solactive Chinese Biotech Index and the Solactive China Electric Vehicle Index as the underlyings for the establishment of two new Korea-based ETFs, the Mirae Asset TIGER China Biotech Solactive ETF and the Mirae Asset TIGER China Electric Vehicle Solactive ETF. The two new ETFs serve as the Korean pendant to the already successfully launched China Biotech ETF and China Electric Vehicle ETF, which the company released in Hong Kong under its Global X branding. 

The establishment of the Korea-based versions aims to grant Korean investors the opportunity to include both ETFs in the construction of their private pension accounts, which requires a domestic listing for ETFs to be eligible for Korean private retirement planning. The release also set a new milestone in Solactive’s APAC expansion strategy since the new ETFs are the first Korean ETFs that use Solactive indices as their underlying.

China remains the largest Electric Vehicle market globally, according to the Global EV Outlook 2020 published by the International Energy Agency (IEA). The report argues that China ought to defend the number one title until the year 2030, making the Middle Kingdom an attractive market for investors seeking to invest in Chinese Electric Vehicle companies. With its new Mirae Asset TIGER China Electric Vehicle Solactive ETF, Mirae Asset launched an ETF specifically dedicated to Korean investors who want to benefit from this positive development.

Timo Pfeiffer, Chief Markets Officer at Solactive, comments: “China’s aspiration to become the number one in basically all industrial sectors serves as a catalyst for Chinese Biotech and EV companies, which, on a global perspective, are unparalleled in their innovation potential. Therefore, Mirae Asset’s two new ETFs include companies operating at the forefront of technological progress. We are very happy that Mirae Asset decided to introduce two of their most successful thematic ETFs to Korean domestic clients, which serves as a great affirmation of our work and partnership with Mirae Asset Global Investments.”

Chun Yong Rhie, Chief Investment Officer at Mirae Asset Global Investments, comments: “We are extremely pleased to launch the China biotech and electric vehicle themed ETFs in Korea. With strong government support, China is on its way to becoming a global hub for the biotech industry, and has finally passed the industry lifecycle of overheating competition to embark on a stage of renewed growth opportunities, particularly in the new drug field. The Electric Vehicle industry in China is also showing promising signs as technological advancement is having a widespread effect in all value chains, from batteries to vehicles, with support from the government policy of expanding renewable energy. TIGER China Biotech and China Electric Vehicle ETFs will be visioned as a pioneer as they have opened a new horizon of China thematic ETFs in the domestic ETF market.

“The most significant investment trend during the COVID era of high market gyration is that the investors were extremely gravitating towards global big tech stocks or related ETFs. Another meaningful change was that the investors have substantially increased ETF investments in their retirement and personal pension accounts. Investing in a pension account reflects their investment horizon and implies that investors are more lenient towards using ETFs based on a long-term view. We will continue to focus on providing innovative global thematic ETFs to Korean investors to cement our positioning as a leader in global investment strategies and will constantly endeavour to create synergies with Mirae Asset’s global affiliates, such as Global X.” 

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