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DUBAI (ALETIHAD)
South Korea-headquartered Mirae Asset Global Investments has opened an office in Dubai as part of plans to expand its operations in the UAE and across the Middle East.
The office, located in Emirates Financial Towers in the Dubai International Financial Centre (DIFC), will support regional investors by providing access to the company’s investment expertise and international markets, according to a statement issued on Monday.
Mirae Asset Investment Managers (DIFC) Limited has also received a Prudential Category 3C regulatory licence from the Dubai Financial Services Authority.
The licence allows the company to manage and distribute collective investment funds to institutional and professional clients across the GCC.
The Dubai office will seek to deepen relationships with existing distribution partners and broaden the company’s access to GCC-based institutional investors, family offices and the Indian diaspora across the Middle East and East Africa, the statement said.
Young Kim, President and Chief Global Officer and Director of Mirae Asset Global Investments, said the DIFC office marked an important milestone in the company’s regional growth strategy and reinforced its long-term commitment to the Middle East.
“We have strong confidence in Dubai’s vision, business-friendly environment and role as a leading international financial centre,” Kim said.
“By establishing a stronger presence here, we are well positioned to accelerate business growth, expand our distribution capabilities and offer innovative investment products that help our clients access opportunities across global markets.”
Swarup Mohanty, Non-Executive Director of Mirae Asset Investment Managers (DIFC), said the Dubai platform would help the company strengthen its engagement with institutional investors, family offices, distribution partners and the Indian diaspora.
“By leveraging the expertise of our India operations, alongside Mirae Asset’s global capabilities, we intend to bring a comprehensive suite of India-focused and global investment strategies to investors in the region,” Mohanty said.
Arif Amiri, Chief Executive Officer of DIFC Authority, said Mirae Asset’s decision to establish a regulated presence in DIFC supported Dubai’s position as an international centre for wealth and asset management.
“The arrival of one of Asia’s largest independent asset managers further strengthens DIFC’s ecosystem and reflects the depth and diversity of global investment expertise choosing Dubai as a base for regional growth,” Amiri said.
He added that Mirae Asset’s capabilities across markets and asset classes could contribute to the development of the region’s investment sector and connect Middle Eastern investors with opportunities in international markets.
Mirae Asset Global Investments manages more than $400 billion in assets and operates across 22 markets in Asia, the Americas, Europe, Australia and the Middle East. Its investment products cover equities, fixed income, exchange-traded funds, multi-asset strategies, alternatives, private markets and thematic investments.
Its parent, Mirae Asset Financial Group, was founded in 1997 and manages more than $800 billion globally. The group’s operations span asset management, wealth management, securities, investment banking, insurance and alternative investments.
