After being acquired by Mirae Asset and its subsidiary Global X earlier this year, ETF Securities Australia has announced that it has now rebranded to Global X ETFs.
The listed products offered by ETF Securities will be renamed as part of the rebrand; however, Mirae Asset and Global X said this will have no material impact on the structure of the funds.
According to the two firms, the international recognition of Global X, which has a network of over one million clients across 95 countries, was at the heart of the decision to rebrand.
“Australia is a focus market for Mirae Asset and I'm delighted to see the business scale in the region,” said Mirae Asset Financial Group founder and global investment strategy officer, Park Hyeon-joo.
“Mirae Asset is extremely committed to its industry-leading ETF businesses and I'm proud to welcome ETF Securities to the Global X brand as it perfectly aligns with our dedication to the sector and to our investors.”
Furthermore, ETF Securities' product line-up was described as complementary to the offerings provided by Mirae Asset and Global X to investors globally.
Since the acquisition, the ETF Securities team has been working with the teams at Mirae Asset and Global X to create synergies and to identify ways to accelerate the growth of the combined company in the Australian market by leveraging the global platform of the firms.
“The rebrand to Global X ETFs builds on a legacy for investors that's beyond ordinary via quality research; the deep balance sheet of our parent company, Mirae Asset; and a track record of innovative and investor driven product design, allowing us to create opportunities for our clients as we expand our offering,” said Global X ETFs CEO, Luis Berruga.
“We are creating an Australian ETF powerhouse by joining Global X and ETF Securities.”
The combined company will use the Global X ETFs name and logo moving forward, and a new website has been launched for the Australian market.
As of June, the firm formerly known as ETF Securities Australia had $4.7 billion in assets under management (AUM), while Mirae Asset's ETF AUM was over $85 billion.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.