A relatively new player in the U.S. mutual fund business just named its mutual fund chief. Today Seoul-based Mirae Asset Global Investments [see profile]
revealed the promotion of Peter Graham
to president of the New York-based Mirae Asset Discovery Funds
, its U.S. mutual fund line. Graham, who has led product development and marketing at the U.S. arm of the global emerging markets equities managers, reports to Joon Kwun
, the new president and CEO of the U.S. business [see MFWire.com, 9/13/2011
A spokesman for Mirae confirmed that Graham will also continue to serve as head of product development and marketing for the U.S. arm.
Mirae, which boasts more than $44 billion worldwide, entered the U.S. fund business in September 2010, launching six funds that now boast nearly $70 million in assets.
Before his time at Mirae, Graham served as head of U.S. product development and management at Credit Suisse Asset Management and global head of hedge fund strategic marketing at Deutsche Asset Management.
Company Press Release
NEW YORK, Nov 02, 2011 -- Emerging markets leader Mirae Asset Global Investments (USA) LLC ("Mirae Asset") announced today that Peter Graham has been appointed President of the Mirae Asset Discovery Funds by the Board of Trustees. Mr. Graham will be responsible for the strategic leadership of the mutual fund organization as well as the evaluation of progress towards organizational objectives and priorities. The appointment comes after Mirae Asset's recent appointment of Joon Kwun as President and CEO of the investment management firm, and builds on his objective of further expansion of the firm's capabilities for delivering emerging market-focused investment strategies to retail and institutional investors in the U.S.
The Mirae Asset Discovery Funds, the first registered products offered by the firm to U.S. investors, launched in September 2010 with a lineup of six emerging market equity strategies. The funds have just celebrated their first anniversary with nearly $70 million in assets under management. They are available to U.S. investors via a steadily expanding roster of major retail and institutional platforms, including Pershing, UBS, and Commonwealth, among others.
Peter Graham is currently the Head of Product Development & Marketing at Mirae Asset Global Investments (USA). Prior to joining Mirae Asset, he was the Head of Product Development & Management (US) at Credit Suisse Asset Management. Mr. Graham was previously Global Head of Hedge Fund Strategic Marketing at Deutsche Asset Management. Before that, he spent numerous years in mutual funds product development including as Director, US Mutual Fund Product Development & management at Deutsche Asset Management and Bankers Trust Company.
Mr. Graham received a Master's of Management in Finance, Marketing, Strategy and International Business at Northwestern University's Kellogg School of Management and a B.S. in Computer Science from Washington University in St. Louis.
Mirae Asset Global Investments
Mirae Asset Global Investments is one of the world's largest investment managers in emerging market equities (source:Investments & Pensions Europe)(source:January 2011). With over 650 employees including more than 130 dedicated investment professionals, Mirae Asset has offices in Brazil, China, Hong Kong, India, Korea, Taiwan, the U.K., the U.S. and Vietnam. Headquartered in Seoul, the firm manages over $44 billion in assets globally, of which more than $17 billion is invested in emerging market equities (as of September 30, 2011). Mirae Asset Global Investments (USA) is focused on providing emerging market equity investment advisory services to mutual funds, foreign investment trusts and institutions. www.miraeasset.com
Risks: Emerging markets: Emerging market investing may be subject to additional economic, political, liquidity, and currency risks not associated with more developed countries.
Mirae Asset Global Investments (USA) LLC is the investment adviser for the Mirae Asset Discovery Funds.
An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. This and other important information about the investment company can be found in the Fund's prospectus. To obtain a prospectus, please contact your financial advisor or please call 1-888-335-3417. Please read the prospectus carefully before investing.
The Mirae Asset Discovery Funds are distributed by Funds Distributor, LLC.
SOURCE: Mirae Asset Global Investments
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