Posted inHong Kong

Mirae Asset expands ETF range in Hong Kong

The firm will be launching its first active ETF in Hong Kong.

Mirae Asset Global Investments has received approval from the Securities and Futures Commission (SFC) last week to launch two China-focused ETFs, according to the regulator’s website.

They are the Global X China Global Leaders ETF and the Global X China Innovator Active ETF.

When launched, the China Innovator Active product will be the firm’s first actively-managed ETF in Hong Kong, the records show.

FSA sought more information from Mirae Asset, but it was not able to provide more information in time for publication.

Active ETFs are new in Hong Kong. It was only in 2019 when the first actively-managed ETF was introduced in the market, which is the ICBC CICC USD Money Market ETF. There are two more active ETFs listed in Hong Kong, which include another money market product and Nikko Asset Management’s E-Games Active ETF.

Global X in the US also listed a China-focused active ETF on the Nasdaq Exchange last month, the Global X China Disruption ETF, which targets disruption in China and seeks to invest in innovative Chinese companies across several power themes. The ETF, which invests across several Chinese equity share classes, including Chinese A-shares, H-shares, and ADRs, is sub-advised by Mirae Asset in Hong Kong according to a statement from the firm.

Mirae Asset acquired New York-based Global-X in 2018. After the acquisition, Mirae Asset’s ETF range in the SAR was rebranded to have the “Global X” name. Previously, they carried the “Horizons” brand, which originally came from the firm’s Canadian business.

In total, Mirae Asset has 16 ETFs listed in Hong Kong, nine of which are China-focused. Seven of them are thematic products, which were launched in 2019 and last year.

Global X China-focused ETFs listed in Hong Kong

Listing timeAUM (HK$m)
Global X MSCI China ETFJun-131,090
Global X CSI 300 ETFSep-1455.47
Global X China Biotech ETFJul-193,010
Global X China Cloud Computing ETFJul-191,490
Global X China Clean Energy ETFJan-203,140
Global X China Consumer Brand ETFJan-201,120
Global X China Electric Vehicle ETFJan-206,240
Global X China Robotics and AI ETFAug-20426.46
Global X China Semiconductor ETFAug-201,350
Source: HKEX

Part of the Mark Allen Group.