Mirae Asset Global Investments Launches New Asia-Pacific UCITS Fund

Apr 12 2017 | 7:16pm ET

Mirae Asset Global Investments has launched a new UCITS-compliant multi-asset fund that will focus on the Asia-Pacific region. 

The new fund, named the Mirae Asset Asia Pacific Multi-Asset Income Fund, was officially launched in mid-December 2016 and is managed by MAPS Capital Management executives Tin Wong and Curtis Yuen, according to an article in Citywire. MAPS is Mirae’s Hong Kong-based hedge fund manager, while Mirae Asset Global Investments itself is a unit of South Korea’s Mirae Asset Financial Group.

The fund hopes to deliver income and capital appreciation through a multi-asset investment approach that concentrates primarily on Asia Pacific asset classes, the article said. Using a proprietary 3-step process, quantitative analysis determines the optimal asset mix for medium- to long-term income generation and asset appreciation; tactical analysis determines individual stock and bond opportunities, while risk analysis manages exposures holistically, with the goal of mitigate risk and lowering volatility.

“Diversification, through investing into streams of uncorrelated risk premia, is important for consistent growth, income generation, and drawdown mitigation,” Yuen said to Citywire. “The rapid transformation undertaken in Asia over the past decades has opened up many attractive investment channels and significantly expanded the risk opportunity set. We think the environment for multi-asset investing in the region is ripe.”

The new fund will be domiciled in Luxembourg as part of Mirae’s Global Discovery Fund SICAV and registered in a number of Asian and European jurisdictions. It is Mirae’s second UCITS fund in the last six months, following the November 2016 debut of the company’s inaugural sharia-compliant vehicle.

Mirae Asset Financial Group was founded in 1997 in the wake of the Asian currency crisis. It has expanded in recent years to include a global asset management capability with offices in 12 countries on 5 continents. The firm’s asset management arm manages more than $90.3 billion in assets across alternative investment strategies, mutual funds and ETFs.

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