Mirae Asset Global Investments
According to numerous Asian gatekeepers, the emergence of regional and local asset managers is threatening the dominance of global houses. This brings Ashley Dale, head of international business development at Mirae Asset Global Investments, to recall the humble origins of Asian asset managers.“One of the things that tends to let the Asian asset management industry down is the lack of [the] fail-safe or watertight investment processes that exist among international asset managers,” he says.
“Although the market of players is already shifting, I can proudly say that Mirae Asset was among the early pioneers of Asian asset management and we’ve worked very hard on our own investment process to get over this hurdle of mistrust.”
Mirae joins the limited pool of local companies that are leveraging their ability to access local market intelligence. Dale gives an example of how the firm’s access stretched beyond the walls of local companies, adding: “How ridiculous it was for asset managers to follow Asia’s markets out of London or Edinburgh, and just crunch numbers.
“For one strategy focused on consumer goods, we brought in a fashion expert, in addition to a Korea consumer analyst, to talk about consumer trends and even discuss the different stages of make-up application and how various practices have been adopted by other markets,” Dale says. “We wanted to give investors more than just a financial perspective to the stories we live and breathe.”
A local presence and diverse access to markets motivated Asia’s gatekeeper’s to select Mirae Asset Global Investments as the private banking industry’s Best Fund Provider – Emerging Market Equity.
“Several years ago, we were known as just a Korean asset manager,” Dale concludes. “We’ve since developed into becoming a regional player. Our goal is to go global.”