Arab Today, arab today mirae asset buys into canadian asset
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Mirae Asset buys into Canadian asset

Arab Today, arab today

Arab Today, arab today Mirae Asset buys into Canadian asset

Seoul - Yonhap

Mirae Asset Financial Group, South Korea\'s leading mutual fund manager, said Sunday it has signed a deal to acquire a controlling stake in a Canadian asset manager as it pushes to expand overseas. Under the deal, Mirae Asset will take over an 85 percent stake in BetaPro Management Inc. for US$131.5 million, it said in a statement. The two companies signed an agreement in Toronto on Thursday (local time). Established in 2005, BetaPro Management oversees the largest exchange-traded fund (ETF) family in Canada and $3.1 billion in assets. In addition, Mirae Asset is set to own an 80 percent stake in AlphaPro Management Inc. and a 40 percent stake in Australia-based BetaShares Holdings Pty. The move is expected to help Mirae Asset strengthen its foothold in the Canadian and Australian ETF markets. Assets in ETFs globally are expected to increase 20-30 percent annually over the next few years. \"Mirae Asset is traditionally very strong in actively managed products and through this transaction we expect to offer our clients a more diversified product lineup with a varied and high-quality suite of ETF products,\" said group chairman Park Hyeon-joo. Park also said the financial group aims to increase its global assets to 100 trillion won (US$94 billion) within five years and said he may consider additional merger and acquisition moves in the future. In May, Mirae Asset acquired a 60 percent stake in Taiwan Life Asset Management Co., Taiwan\'s seventh-largest life insurer, as part of its efforts to bolster its position in Asia.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mirae asset buys into canadian asset Arab Today, arab today mirae asset buys into canadian asset

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mirae asset buys into canadian asset Arab Today, arab today mirae asset buys into canadian asset

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday