Mirae Asset's Emerging Markets Great Consumer Fund (MICGX) Celebrates 10-Year Anniversary & 5-Star Morningstar Rating
The Fund maintains a 5-Star Morningstar Rating in the Diversified Emerging Markets Category for the overall, 3-, 5-, 10-year periods out of 695, 695, 590, and 264 funds based on risk-adjusted returns as of September 30, 2020.
NEW YORK, September 30, 2020 -- Mirae Asset Global Investments (“Mirae Asset”), one of the world's largest investment managers in emerging market equities, is proud to announce that the Mirae Asset Emerging Markets Great Consumer® Fund (MICGX) has achieved its 10-year track record as of September 24, 2020. On top of this, since the Fund’s inception on September 24, 2010, it has delivered attractive risk-adjusted returns outperforming its benchmark and the Morningstar Diversified Emerging Markets Category as of September 30, 2020.
In the US, the consumption activity of the “Baby Boomer” generation was a key driver of growth – which propelled us to become the world’s largest economy. Today, another middle class “boom” is occurring in the emerging markets. The rising number of consumers in the emerging markets is set to transform the global economic landscape over the coming decades. Mirae Asset’s Great Consumer® investment strategy seeks to identify those high-quality companies that may capitalize on this new and growing consumer base.
“Ten years ago, we brought innovation to the asset class, launching a product providing investors with exposure to the consumer growth story in emerging markets,” said Joon Hyuk Heo, CEO of Mirae Asset Global Investments (USA). “We are encouraged to see that Mirae Asset’s dedication to our rigorous investment process, local due diligence, and a concentrated portfolio has delivered positive returns for our investors since the inception of the Fund and look forward to future achievements.” Please note, historical results are not an indication of future performance.
As of September 30, 2020, on a total-return basis, the Emerging Markets Great Consumer Fund’s performance places it in the top 1% of the Morningstar Diversified Emerging Markets Category (1 of 263 funds) since inception. For the 1-, 3-, 5-, 10-year periods MICGX was ranked 17 of 791, 5 of 695, 13 of 590, 1 of 265 funds respectively in the Diversified Emerging Markets category based on total return as of September 30, 2020.
Mirae Asset’s Emerging Markets Great Consumer® Fund focuses on identifying companies with high-quality management teams and business models that may benefit from secular growth in domestic spending across emerging markets. Our investment strategy utilizes a fundamental, bottom-up approach to invest in companies that may benefit from such enduring trends and which have shown to possess sustainable competitive advantages. We believe that opportunities for the Great Consumer® strategy remain strong. The Fund seeks to achieve long-term capital growth.
Fund Performance as of September 30, 2020
|1 Year||3 Year||5 Year||10 Year||Since Inception|
|MSCI EM Index||10.54%||2.42%||8.97%||2.50%||10.54%|
Category Average = Morningstar US Fund Diversified Emerging Markets Category Average. Since inception for MICGX is 9/24/2010. Performance for more than 1 year is annualized. Past performance does not guarantee future results. The performance data quoted represent past performance and current returns may be lower or higher. Share prices and investment returns fluctuate and an investor’s shares may be worth more or less than original cost upon redemption. For performance data as of the most recent month-end please call (888) 335-3417. The Fund performance may not be indicative of the Fund’s long-term potential. The Fund’s returns will fluctuate over long- and short-term periods. Mirae Asset Global Investments has contractually agreed at least through August 31, 2021 to limit the fund’s expense ratio as described in the prospectus, at which time this arrangement may be terminated, extended or modified. MICGX Expense ratios: Gross 1.33%, Net 1.15%. MSCI Emerging Markets Index captures large and mid cap representation across 26 emerging market countries. You cannot invest directly into an index.
About Mirae Asset Global Investments
Mirae Asset Global Investments was founded in Asia in 1997 and has expanded its presence across 12 countries. Mirae Asset Global Investments is recognized as one of the world’s largest emerging market equity investment managers. As of September 30, 2020, we have over $161 billion in total assets under management, giving us the scale and experience to identify opportunities in a changing world. We offer a fully diversified investment platform to clients around the world. Powered by a unique perspective and the expertise of our 207 global investment professionals, as of September 30, 2020, we adapt to our clients’ evolving needs, providing them with innovative investment options with the aim to achieve their investment objectives. Our roots are firmly embedded in the dynamic and strategically important markets in which we invest. Our in-market presence – combined with our research-intensive, bottom-up investment process – positions our investment teams to see opportunities with the insight and conviction that drive success.
 Investment & Pensions Europe, September 2019
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Morningstar ranking/number of funds in category displays the Fund's actual rank within its Morningstar Category based on average annual total return and number of funds in that Category. The returns assume reinvestment of dividends and do not reflect any applicable sales charge. Absent expense limitation, total return would be less. Morningstar percentile rankings are the Fund's total return rank relative to all the funds in the same Morningstar Category, where 1 is the highest percentile rank and 100 is the lowest percentile rank.
Market Turbulence Resulting from Covid-19 – The outbreak of Covid-19 has negatively affected the worldwide economy, individual countries, individual companies and the market in general. The future impact of Covid-19 is currently unknown, and it may exacerbate other risks that apply to the Fund.
Emerging Markets Risk — The risks of foreign investments are typically greater in less developed countries, which are sometimes referred to as emerging markets. For example, legal, political and economic structures in these countries may be changing rapidly, which can cause instability and greater risk of loss. These countries are also more likely to experience higher levels of inflation, deflation or currency devaluation, which could hurt their economies and securities markets. For these and other reasons, investments in emerging markets are often considered speculative. Similarly, investors are also subject to foreign securities risks including, but not limited to, the fact that foreign investments may be subject to different and in some circumstances less stringent regulatory and disclosure standards than US investments.
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.
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 or summary prospectus. To obtain a prospectus or a summary prospectus, please call (877) 647-2301. Please read the prospectus carefully before investing.
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