New York-headquartered ETF provider Global X, which was acquired by Mirae Asset Global Investments in 2018, has made its foray into the European market with the listing of two Ucits ETFs in the region.
The firm listed the Global X Video Games & Esports UCITS ETF (HERU) and the Global X Telemedicine & Digital Health UCITS ETF (EDOC) on the London Stock Exchange in mid-December, according to a statement from the firm.
The move follows after Global X announced on 1 December that it was launching its European business operation. To support the expansion, the firm hired a team of senior executives, which include Rob Oliver, head of business development for Global X ETFs in Europe, and Morgane Delledonne, director of research.
Oliver, who was global head of beta and systematic strategies for global wealth management at JP Morgan, is responsible for leading Global X’s Ucits ETF distribution efforts across the region. Delledonne, who is responsible for promoting the firm’s investment insights across Europe, was an ETF investment specialist at BMO Global Asset Management.
In Asia, Global X offers its ETFs in Hong Kong and Japan. In 2019, Mirae Asset’s Hong Kong ETF division was rebranded under the Global X banner, and in Japan, Global X and Daiwa Securities partnered to launch Global X Japan.
Globally, Global X saw its assets grow around 50% in the last 12 months to around $18bn, according to the statement.
The other ETF brands that Mirae Asset owns include Beta Shares in Australia, Horizons in Canada and Tiger ETFs in Korea.
Overall, Mirae Asset’s global ETFs platform has around $50bn in assets, according to the statement.
THEMATIC DEMAND
The two newly listed ETFs reside within Global X’s suite of thematic growth ETFs, which the believes should continue to gain traction among investors.
“We believe investors are increasingly seeking exposures beyond broad-market indices to achieve their unique financial goals,” Oliver said in the statement.
“Across the economy, digitalisation is accelerating as businesses, consumers and governments are increasingly embracing these disruptive technologies to enhance production, quality of life and offer societal benefits,” added Delldonne.
“In healthcare, telemedicine and digital health are revolutionising the acess to and quality of patient care, while simultaneously reducing costs. On the consumer side, video games and esports are providing immersive mobile and societal entertainment to billions of gamers around the world, dramatically changing the way we spend our leisure time.
“We expect these powerful themes to continue to experience long-term growth as they further disrupt traditional economic sectors.”
In the US, Global X’s ETFs targeting video games and esports and telemedicine and digital health themes have gathered around $400m in net inflows last year, amassing at least $1bn in combined assets under management, according to the statement.
