MutualFundWire.com: In the U.S., One Global ETF Brand Replaces Another

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Friday, December 28, 2018

In the U.S., One Global ETF Brand Replaces Another

A multinational asset manager with $134 billion in worldwide AUM is consolidating its U.S. ETF brands after an acquisition.

Luis Berruga
Global X Management Company LLC
CEO

Earlier this week, on Christmas Eve, Mirae Asset Global Investments [profile] rebranded its U.S. Horizons ETFs lineup by shifting its three Horizons ETFs in the U.S. into three new ETFs under the Global X [profile] brand, as expected, ETF.com reports. The Horizons DAX Germany ETF became the Global X DAX Germany ETF (DAX) , the Horizons NASDAQ 100 Covered Call ETF became the Global X NASDAQ 100 Covered Call ETF (QYLD), and the Horizons S&P 500 Covered Call ETF became the Global X S&P 500 Covered Call ETF (HSPX).

The rebranding comes after Seoul-based Mirae bought New York City-based Global X earlier this year to add "an anchor presence in the United States" for Mirae's global ETF business, in the words of Taeyong Lee, Mirae's then-global head of ETFs.

Mirae brought its Horizons ETFs brand from Canada into the U.S. in 2012. Mirae continues to use the Horizons ETF brand in Canada, Colombia, and Hong Kong, while using the BetaShares brand in Australia and the Tiger ETFs brand in its home country of Korea.

Editor's Note: A prior version of this story gave the wrong employment information for Taeyong Lee. He no longer works with Mirae.

Printed from: MFWire.com/story.asp?s=59118

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