Mirae Asset Group To Enter Private Equity And Investment Banking
Mirae Asset Group is scouting for private venture/equity investments in India and is setting up investment banking and broking business through Mirae Asset Capital Market India
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Mirae Assets has doubled its AUM in the last year to over Rs 15,000 cr. Mirae Asset Group is scouting for private venture/equity investments in India and is setting up investment banking and broking business through Mirae Asset Capital Market India.
Mirae Asset is also launching a short-term debt fund in Feb’2018. For the remaining part of the year, we will launch hybrid funds like equity savings fund and an Arbitrage Fund. Mirae Asset is also looking at launching passive investment products (ETFs) in 2018.
Mirae Asset is also going to apply with SEBI for an AIF (proposed in Q2 2018), which will invest in Private Debt across the credit opportunities spectrum, mostly focusing on higher grade projects or entities as well as undertake venture debt investments, which is an emerging opportunity given limited presence of venture debt providers in India.
The AMC has broken into the Top 20 AMC; based on Total AUM and is at 16th position based on Equity Assets (Source: ACE MF, data as on 30th, 2017). The SIP flows have also grown significantly and have grown from Rs. 29 crores in March’16 to monthly inflows of Rs. 200 crores in December’17.
Mr. Swarup Mohanty, CEO, Mirae Asset Global Investments (India) said: “The growth in SIP flows is the most significant achievement, as the SIP is a forward call on an organization by both advisors as well as investors. We are extremely happy to see the faith in us growing amongst advisors and investors. It is our endeavor to provide superior investment experience for our investors and help them in their wealth creation journey.”
Mirae Asset (India) also provides Advisory Services to Hong Kong office for Equity Investments and Korea offices for both Equity and Debt Investments. Last year Mirae Asset India along with Mirae Asset HK office successfully launched India offshore fund Mirae Asset India Midcap Equity Fund (launched on 5th December, 2017), which has gathered 450 million USD in assets in the 1st month of launch.