Mirae Asset Investment Managers Pvt, Mirae Asset’s Indian asset management subsidiary, is now India’s ninth-largest asset manager with 31.9 trillion won ($22.8 billion) in assets under management.It is the No.1 foreign asset manager operating in the country.“Mirae Asset has emerged as a new industry powerhouse in India with about 9 million accounts under management but the lack of local branches has made it difficult to reach out local retail investors,” said a Mirae Asset official.“Sharekhan has immediately allowed us to have a firm network.”Mirae Asset Sharekhan plans to make inroads into India’s wealth management and investment banking markets while striving to expand its presence in the country’s stock and derivative investment sectors, added the official.
FOUNDER PARK HYEON JOO LEADS INDIA CONQUEST Park Hyeon Joo, the founder of Mirae Asset Financial Group and its global investment and strategy officer (GISO), is said to have led the acquisition of Sharekhan, according to sources.“With this acquisition of ShareKhan, we have seized the opportunity to take the lead in the Indian securities industry, which is growing fast.
South Korea’s leading asset manager Mirae Asset Financial Group will strive to take over the fifth-largest share of the Indian securities market with Mirae Asset Sharekhan Inc.by foraying into the South Asian country’s wealth management and investment banking markets.
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