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Mirae Asset launches APAC multi-asset fund

Mirae Asset Global Investments (HK) has launched a Luxembourg-domiciled Asia-Pacific multi-asset income fund targeted to institutional investors and high-net-worth individuals.


The Mirae Asset Asia Pacific Multi-Asset Income Fund is currently available to institutional investors in the region, according to a Hong Kong-based spokeswoman of the firm. It is also available for sale to accredited investors in Singapore, which include high-net-worth investors, she added, noting that the fund is registered as a restricted scheme under the Monetary Authority of Singapore.

The firm also plans to register the fund for public distribution in selected jurisdictions in Asia and Europe, according to a statement from the firm.

The fund, which was first launched globally in December, aims to deliver a stable stream of income and risk-adjusted returns, according to the statement. The fund is a sub-fund of the Mirae Asset Global Discovery Fund Sicav, a Luxembourg-domiciled Ucits fund.

The fund’s portfolio has three portions: an “asset allocation core”, which sets out the medium-to-long-term multi-asset mix; a “tactical layer”, which captures investment opportunities through individual stock and bond picking; and a portion that seeks to mitigate risks and dampen the volatility of the portfolio, according to the statement.

The fund invests mainly in Asia-Pacific securities, such as ETFs, Ucits funds, equities, equity-related securities and debt securities, according to the Mirae Asset Global Discover Fund’s prospectus. 

The fund may also invest in non-APAC securities on an “ancillary basis”, the prospectus added. It may also gain exposure to derivative instruments, such as futures, options and swaps.  Investment in contingent convertible bonds is allowed up to 10% of the fund’s net assets.

The principal investment manager of the fund is Mirae Asset Global Investments (HK) and the investment manager is MAPS Capital Management, an alternative entity affiliated with the Mirae Asset group, according to the statement.

“Institutional investors have developed substantial investment appetite for global multi-asset income products,” Marco Tutavac, head of consultant relationships at Mirae Asset Global Investments (HK), said in the statement. “However, we believe Asia will be a key long-term driver of global growth.”

The launch of the fund comes at a time when investors are pouring in money into alternative multi-asset funds, as reported.

These funds gained the most net inflows from Asian investors in 2016, according to data from Morningstar.

The data, which includes funds available for sale in Hong Kong, Singapore, Philippines, Taiwan and global cross-border funds for sale in the region (such as Ucits), shows that inflows in multi-strategy funds totalled nearly $10bn.

 Source: Morningstar

Besides Mirae Asset, Neuberger Berman also launched in December last year an alternative multi-asset fund, the Multi-Asset Risk Premia Fund, which is available in Hong Kong and Singapore to professional investors, as reported. 

Part of the Mark Allen Group.