Mirae, Global X acquire ETF Securities

Mirae Asset and Global X ETFs will acquire ETF Securities Australia, expanding the companies' global ETF footprint into the Australian market.

In a joint statement, Mirae and Global X said the acquisition of ETF Securities would provide them with an opportunity to instantly add scale in the Australian market. Moreover, the product line up of thematic, commodities and digital assets strategies complemented its current offerings of intelligent ETF solutions for global investors.

Mirae Asset global investments chief executive Byungsung Lee said: "This acquisition underscores Mirae Asset's continued commitment to maintaining industry-leading ETF businesses in key markets around the world and brings immediate scale to our operations in Australia."

The partnership with Mirae Asset and Global X will afford ETF Securities Australia the ability to leverage the research and product development capabilities of its parent companies.

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Founder and chair of ETF Securities Graham Tuckwell said that for 20 years ETF Securities had been a pioneer in the ETF industry and that Mirae and Global X shared this visionary mindset.

Chief executive of Global X Luis Berruga added: "ETF Securities and Global X share an exploration mindset that has allowed both businesses to quickly adjust to the demands of a very fast industry and we're thrilled to leverage our global capabilities to support ETF Securities' next phase of growth."

"By joining forces, we are able to share resources to provide Australian investors with truly first of their kind ETFs across thematic, commodities and digital assets."

In ASX and Cboe Australia market announcements, ETF Securities revealed the new directors of ETFS Management Australia to be Young Hwan Kim, Thomas Jefferson, Evan Metcalf and Kanish Chugh.