Mirae launches Asia growth equity fund

Hong-Kong-1Mirae Asset Global Investments has launched an Asia Growth Equity Fund in Luxembourg as part of the Korean-based manager's push into the European market. The fund invests in high growth companies in Asia ex-Japan and will be managed from Hong Kong. Mirae Asset, an emerging market equity specialist with over $65 billion (€50.4 billion) in assets under management (AUM), is offering the fund as a Luxembourg Sicav product and it complements the manager's existing fund range. The fund will target companies that are approaching a high-growth phase, potentially resulting in a share price re-rating. The strategy favours investments in small/mid-cap stocks in industries such as consumer, healthcare and e-commerce. Sung Ho Im, a senior portfolio manager, will manage the fund. He follows a concentrated bottom-up investment philosophy not linked to any benchmark – a similar approach to Mirae Asset’s Asia Great Consumer, which recently crossed the $200 million AUM mark – and Asia Sector Leader fund, which has over $350 million of AUM. Overall, Mirae Asset's AUM across its European Sicav range has more than doubled in the past year. Ashley Dale, chief marketing officer at Mirae Asset, says: "The launch of the Asia Growth Equity Fund is the latest part of our successful push into Europe and the Middle East. "We have seen a strong increase in AUM across our Sicav range and the launch of the Asia Growth Equity Fund will capitalise on this position." ©2014 funds europe

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