2 weeks Ago By Jung So-yeon
Mirae Asset Global Investments announced on April 21 that its subsidiary, Global X Australia, has exceeded AUD 10 billion in assets under management for its ETFs. This places them among the top five players in the Australian ETF management industry. Global X Australia is a rapidly growing firm built on a lineup of commodity-focused ETFs, particularly gaining attention for launching the world's first physical gold ETF.
Mirae Asset Management acquired the company, which was called ETF Securities at the time, in June 2022 and rebranded it under the Global X name. They currently manage a total of 43 ETFs. Since the acquisition, the assets under management have seen rapid growth.
From AUD 4.64 billion in June 2022, the assets rose to AUD 6.21 billion by the end of 2023 and are projected to reach AUD 9.
13 billion by the end of 2024, having recently surpassed AUD 10 billion. This growth rate of 22.3% exceeds the average annual growth rate of 18.
6% for the Australian ETF market during the same period. In particular, Global X Australia has shown strengths in the gold ETF sector, which has recently gained increased attention due to rising demand for safe assets amid market volatility. Notable products include the "Global X Physical Gold Structured (GOLD AU)," the world's first physical gold ETF, along with "Global X Gold Bullion (GXLD AU)" and "Global X Gold Bullion Currency Hedged (GHLD AU).
" Additionally, leveraging Global X's global network, the firm has differentiated itself by introducing thematic ETFs focused on artificial intelligence, defense industries, and more to the Australian market. Innovative products include "Global X Artificial Intelligence (GXAI AU)" and "Global X Defence Tech (DTEC AU)." Looking ahead, Global X Australia plans to expand its core product offerings in the Australian ETF market and increase its market share.
They also aim to target the Australian pension market in collaboration with Mirae Asset's robo-advisor subsidiary, StockSpot. As of the end of 2024, Australia's pension market ranks fifth globally and is expected to grow to second place by 2030. “We aim to provide more competitive products for local investors, establishing ourselves as a long-term partner with strengths in pension investments,” said Alex Zaika, CEO of Global X Australia.
“Through rebranding, product diversification, and organizational leadership restructuring, we have achieved significant growth both quantitatively and qualitatively, and Australia will continue to be a key market in the expansion of our global ETF business,” said Kim Young-hwan, Head of Global Management at Mirae Asset Global Investments..
