Mirae Asset Discovery Funds Now Available on Pershing FundVest Platform
April 4, 2011
Emerging markets leader Mirae Asset Global Investments ("Mirae Asset") announced today that the Mirae Asset Discovery Funds, the firm's suite of six emerging markets mutual funds offered in the U.S., is now available on the FundVest platform of Pershing LLC, a BNY Mellon company.
"As we continue our expansion into the U.S. market, being placed on a platform as prominent as Pershing's is an important step for our firm. We're very pleased that the over 1,500 broker-dealers and RIAs representing more than five million investors have access to Mirae Asset's emerging markets expertise via FundVest," said Jay (Hun Jun) Jang, President and CEO of Mirae Asset (USA). "Our Funds offer investors a broad opportunity to invest in the markets which we believe are positioned for future global economic activity."
"As the economic output of the developing world rises, allocations to emerging markets are increasing," said Sandy Motusesky, director of investment solutions in the product management and development group at Pershing. "Mirae Asset is one of the world's premiere managers of emerging markets equities and we are delighted to offer our broker-dealer and RIA customers access to this asset class through FundVest,"
The Mirae Asset Discovery Funds include single-country, regional and global emerging market funds deployed according to two investment themes: Great Consumer and Sector Leader. The Great Consumer funds invest in companies across a range of sectors that seek to benefit from increasing domestic consumption in the emerging markets. In the Sector Leader funds, Mirae Asset seeks companies it believes to be capable of achieving or maintaining a dominant position within their respective industries. The Funds are offered in three share classes, Class A, Class C, and Class I. A full list of the Mirae Asset Discovery Funds and their ticker symbols are below:
- Global Emerging Markets Great Consumer Fund (MECGX, MCCGX, MICGX)
- Asia Great Consumer Fund (MGCEX, MGCEX, MGCCX, MGCIX)
- Global Emerging Markets Sector Leader Fund (MALGX, MCLGX, MILGX)
- Asia Sector Leader Fund (MALAX, MCLAX, MILAX)
- China Sector Leader Fund (MALCX, MCLCX, MELCX)
- Brazil Sector Leader Fund (MALBX, MCLBX, MILBX)
Equity securities: Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.
Emerging markets: Emerging market investing may be subject to additional economic, political, liquidity, and currency risks not associated with more developed countries.
Geographic Concentration Risk: A small number of companies and industries may represent a large portion of the market in a particular country or region, and these companies and industries can be sensitive to adverse social, political, economic or regulatory developments in that country or region.
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.
Mirae Asset Global Investments (USA) LLC is the investment adviser for the Mirae Asset Discovery Funds.
About Mirae Asset Global Investments
Mirae Asset Global Investments is one of the world's largest investment managers in emerging market equities (Investments & Pensions Europe, January 2014). With over 550 employees, including 123 dedicated investment professionals, Mirae Asset offers a breadth of emerging markets expertise. Mirae Asset's offices are located in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam. The firm manages over $56 billion in assets globally through a diversified platform to offer market-leading franchises in traditional equity and fixed income products, ETFs and alternative strategies, such as real estate, private equity and hedge funds. Mirae Asset Global Investments (USA) LLC is focused on providing equity and fixed income investment advisory services to mutual funds, foreign investment trusts and institutions. (www.miraeasset.com)
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