Mirae Asset Global Investments to acquire Indonesian Asset Manager ‘NISP AMC’

Feb. 9, 2012 - PRLog -- On 9th February 2012, Mirae Asset Global Investments Co. Ltd. (“Mirae Asset”) is pleased to announce that it has signed a conditional shares purchase agreement (CSPA) to acquire a 70% stake in NISP Asset Management company (“NISP”), a local Indonesian asset manager based in Jakarta, Indonesia. Mirae Asset becomes the first among Korean firms to gain a foothold in the South East Asian asset management sphere. Mirae Asset will acquire the shares from NISP Sekuritas, a prime securities company in Indonesia.

Mirae Asset is the first Korean asset manager to advance into South East Asia and Indonesia to manage and distribute investment funds. This acquisition enables Mirae Asset to gain a strong foothold in those markets which many claim will experience considerable economic growth. Over the years, Indonesia has become a resources rich nation and has the 4th largest population in the world.

NISP is a pure domestic asset manager and manages approximately KRW 500bn (USD 440mn) in assets. Excluding state owned affiliates and foreign based AMCs, NISP is one of the largest in size of assets under management (AUM) among pure local asset management players. Its core capabilities lie in fixed income funds investing in government and corporate bonds.

The Indonesia asset management industry is approximately KRW 20.0tn (USD 17.3bn) in AUM size and has been growing at a rate of approximately 30% per year.

Mirae Asset plans to launch and manage various onshore fund products in Indonesia, riding on its expertise in emerging markets. It is also contemplating various strategies in Korea such as showcasing Indonesian fixed income funds.

Since opening its first overseas office in Hong Kong back in 2003, Mirae Asset has endeavored to expand its global investment network with offices established in India, UK, US, and Brazil. Over the past year, it continued its expansion plans with the acquisition of asset managers in Taiwan, Canada and Australia. Upon completion of this acquisition, Mirae Asset will be able to deliver more premium products and services through its global network.

“Indonesia is a resources rich nation and accompanied with its solid domestic consumption demands, we see a significant upside in its growth capabilities. This will be the tipping point of our expansion into South East Asia” says Mr. Jun Won YANG, Director of Strategy and Planning Division in Mirae Asset, Korea.

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About Mirae Asset:
Mirae Asset Financial Group is a leading independent financial services group in Asia, headquartered in Seoul, South Korea. While the group’s core business is asset management, it also provides comprehensive financial services in the areas of wealth management and life insurance.

Mirae Asset Global Investments Group is the asset management arm of Mirae Asset Financial Group. It is one of the largest investors in emerging market equities¹. With around 670 employees, including more than 130 dedicated investment professionals (as of 31 October 2011), Mirae Asset Global Investments Group has a presence in Hong Kong, China, Korea, India, Vietnam, Taiwan, Brazil, the United Kingdom and the United States. Mirae Asset Global Investments Group manages over US$49.1 billion in assets globally (as of 31 October 2011).

www.miraeasset.com


¹ One of the largest investors in emerging market equities amongst 54 asset management firms surveyed - Investing in Emerging Market Equities Survey, Investment & Pensions Europe (IPE), Jan., 2011


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The Mirae Asset Financial Group provides a broad range of financial services, including asset management, securities, life insurance, capital, venture investment and real estate. The group employs over 11,000 people around the world.