Mirae Asset Global Investments said Friday that it held a gathering of executives worldwide to discuss the asset manager's future direction in the global exchange-traded fund business and to evaluate the current status of each market.

With 70 CEOs and chief investment officers of Mirae Asset's overseas subsidiaries in attendance, ETF Rally 2023 took place from Monday to Wednesday in Seoul and Hongcheon, Gangwon Province.

During the event, the executives introduced the ETF business in each country and proposed ways to strengthen the global network of Mirae Asset's global ETF brand.

Mirae Asset currently operates over 510 ETFs in 11 countries, including the United States, Japan, Canada, Australia and India. Its total assets under management amount to 121 trillion won ($91.2 billion).

Park Hyun-joo, global strategy officer of Mirae Asset Group, has actively pursued mergers and acquisitions to expand the global ETF business. In 2011, Mirae Asset acquired Canadian ETF management company Horizons ETFs, followed by the acquisition of Global X in the US in 2017 and Australia's ETF Securities in 2022.

Luis Berruga, CEO of Global X, shed light on the track record of Mirae Asset Global Investments’ global ETFs. Global X has grown into a leader in themed ETFs in the US, which accounts for 70 percent of the global ETF market. Assets under management at Global X increased to 51 trillion won at the end of April from 8 trillion at the time of acquisition.

Swarup Mohanty, CEO of the Indian subsidiary, analyzed the current and future status of ETFs in India, which has emerged as the world's largest consumer market and crucial part of the global supply chain.

Mohanty shared the expertise of Mirae Asset Management India, the only independent foreign asset management company active in India. Entering the Indian market more than 10 years ago, the company endured a financial crisis and has grown to become the ninth-largest asset manager in India.

Each local entity in Europe, Australia, Canada and China delivered its own analysis, and panel debates took place on ways to create global business synergies.

In-depth discussions were held to enhance the brand value of global ETFs managed by Mirae Asset Global Investments and enhance the company’s competitiveness.

“ETF experts from 11 countries shared their expertise and ideas to create synergies at the event,” said Kim Young-hwan, head of global management at Mirae Asset Global Investments.

“As the global leader in ETF management, we will continue to work hard to grow talent and share a vision to boost our ETF business.”