S. Korean Firm Mirae Launches First 6 Mutual Funds in U.S.

Mirae Asset Global Investments, an emerging market equity investment management firm headquartered in Seoul, South Korea, announced Monday the launch of its first six mutual funds in the United States.

The Mirae Asset Discovery Funds mutual funds, which have Class A, C, and I shares, aim to take advantage of the socioeconomic changes redefining emerging market economies and supporting domestic business expansion. They are:

• Global Emerging Markets Sector Leader Fund (MALGX, MCLGX, MILGX)
• Asia Sector Leader Fund (MALAX, MCLAX, MILAX)
• China Sector Leader Fund (MALCX, MCLCX, MILCX)
• Brazil Sector Leader Fund (MALBX, MCLBX, MILBX)
• Global Emerging Markets Great Consumer Fund (MECGX, MCCGX, MICGX)
• Asia Great Consumer Fund (MGCEX, MGCCX, MGCIX)

"We are emerging market experts. It's what we do," said Jay (Hun Jun) Jang, president and CEO of Mirae Asset Global Investments (USA), in a statement. "Because of our global portfolio management capabilities, we are able to offer single-country, regional and global emerging market funds. We look for companies with a sustainable competitive advantage by implementing the research-intensive, bottom-up approach used since Mirae Asset's inception in 1997."

Mirae Asset Global Investments is one of the world's largest investment managers in emerging market equities. With over 500 employees and more than 160 investment professionals, Mirae Asset portfolio management teams are located in Brazil, China, Hong Kong, India, Korea, the United States and Vietnam. The firm manages over $50 billion in assets globally as of June 30, of which more than $30 billion is invested in emerging market equities.