Company Press Release

March 6, 2012, 10:00 a.m. EST

Mirae Asset Global Investments Launches Global Dynamic Bond Fund
Emerging Markets Expert Expands Mutual Fund Lineup With Its First Fixed Income Offering

NEW YORK, Mar 6, 2012 -- Mirae Asset Global Investments, one of the world's largest emerging market equity investment managers,1 today announced the launch of the Global Dynamic Bond Fund. This new mutual fund invests in sovereign, quasi- sovereign and corporate bonds from issuers in both emerging and developed markets. The fund seeks to achieve total return, and seeks capital preservation as a secondary objective, utilizing an asset allocation investment strategy.2 The New York-based portfolio management team is supported by Mirae Asset's fixed income resources globally. The fund's investment approach allows the portfolio manager to adjust portfolio exposure according to the conclusions of the team's macroeconomic research.

"The Global Dynamic Bond Fund introduces Mirae Asset's fixed income investing capability to the U.S. market," said Peter Graham, President of the Mirae Asset Discovery Funds. "Similar to our equity offerings, the Global Dynamic Bond Fund offers U.S. investors a tool to access Mirae Asset's expertise in the emerging markets. This new fund responds to fund investors' renewed focus on global bonds as a potential source for income."

The Mirae Asset Global Dynamic Bond Fund was launched on February 29, 2012 with ticker symbols MAGDX (Class A); MCGDX (Class C); and MDBIX (Class I).

Fixed Income at Mirae Asset Global Investments

Mirae Asset Global Investments has $14.2 billion in fixed income assets under management (AUM) in both emerging market bond and global bond asset allocation strategies and has been offering non-U.S. investors fixed income strategies since 1999.

Mirae Asset's Approach to Fixed Income

In pursuing total return, the fund invests in issues from both emerging and developed markets, across a range of fixed income sectors and credit strata. Mirae Asset believes the market gives identifiable signals for making tactical shifts in risk exposure. Based on this investing philosophy, the Global Dynamic Bond Fund is actively managed with an asset allocation approach, positioning the portfolio according to a constant evaluation of global market conditions. Specifically, the fund targets bond sectors with risk-return profiles that are lower in times of market turmoil and higher in more robust markets. At times when Mirae Asset considers global market conditions supportive of exposure to higher risk/return securities, the fund diversifies across these four sectors: (1) hard-currency denominated emerging market sovereign debt and quasi-sovereign debt; (2) local- currency denominated emerging market sovereign debt; (3) hard-currency denominated emerging market corporate bonds; and (4) global high yield bonds. When macroeconomic indicators suggest riskier markets, however, the portfolio will seek to protect capital in what Mirae Asset considers "defensive" fixed income sectors, typically U.S. Treasury issues and high-quality, hard-currency government and corporate issues from developed market issuers. During normal market conditions, the fund's holdings are expected to be investment grade, although the fund can purchase high-yield securities as well.

Risks: ASSET ALLOCATION - The Fund's ability to achieve its investment objective will depend, in part, on the Investment Manager's ability to select the best allocation of assets across the various developed and emerging markets. There is a risk that the Investment Manager's evaluations and assumptions may be incorrect in view of actual market condition. CREDIT - The issuer of a fixed income security, or the counterparty to a contract, such as swaps or other derivatives, may become unable or unwilling to meet its financial obligations. Various market participants, such as rating agencies or pricing services, also may affect the security by downgrading the credit of the issuer of the security, which may decrease the value. DERIVATIVE -- The Fund may utilize derivatives for hedging purposes, to enhance returns or to obtain exposure to various market sectors. The risks of derivatives include liquidity, interest rate, market, credit and management risks. The instrument may be also mispriced or improperly valued, and the Fund could lose more than the principal amount invested. Unpredictable or rapid changes in the currency markets could also negatively affect the value of currency derivatives, such as currency forward/futures contracts. Derivatives also may give rise to increased leverage, and the Fund may become more volatile to market changes. The extent and impact of potential new regulation regarding the derivatives markets is not yet known and may not be known for some time. Such regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives. FOREIGN SECURITIES - Foreign investments may be subject to different and, in some cases, less stringent regulatory and disclosure standards than U.S. investments. Also, political concerns, fluctuations in foreign currencies and differences in taxation, trading, settlement, custodial and other operational practices may result in foreign investments being more volatile and less liquid than U.S. investments. Foreign regulatory and fiscal policies may affect the ability to trade securities across markets. Foreign markets also may differ widely in trading and execution capabilities, liquidity and expenses, including brokerage and transaction costs. Brokerage and transaction costs generally are higher for foreign securities than for U.S. investments. Foreign investments typically are issued and traded in foreign currencies. As a result, their values may be affected significantly by changes in exchange rates between foreign currencies and the U.S. dollar.

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 1-800-335-3412. Please read the prospectus carefully before investing.

The Mirae Asset Discovery Funds are distributed by Funds Distributor, LLC.

Mirae Asset Global Investments

Mirae Asset Global Investments offers a breadth of emerging market expertise with over 700 employees, including more than 135 dedicated investment professionals. Mirae Asset has offices in Brazil, Canada, China, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam. Headquartered in Seoul, the firm manages over $50 billion in assets globally (as of December 31, 2011). Mirae Asset Global Investments (USA) provides investment advisory services to mutual funds, foreign investment trusts and institutions.

( www.miraeasset.com )

The Mirae Asset Global Investments (USA) LLC logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11543

1Source: Investment & Pensions Europe. January 2012.

2 Investing involves risk including the possible loss of principal and there can be no assurance that any investment strategy will be successful.

SOURCE: Mirae Asset Global Investments (USA) LLC


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