Korean asset manager Mirae Asset Global Investments (Mirae) and Japanese asset manager Daiwa Asset Management (Daiwa) have joined forces in order to launch the Mirae Asset Next Asia Pacific Equity Fund.
The fund will invest in in Asia Pacific including Japan equities based on fundamental bottom-up research analysis and high conviction stock selection. It is a sub-fund of the Mirae Asset Global Discovery Fund Sicav, a Luxembourg-domiciled Ucits fund.
It is jointly managed by Masaki Takebayashi, senior portfolio manager at Daiwa Asset Management, and Joohee An, senior portfolio manager at Mirae Asset Global Investments.
Jung Ho Rhee (pictured), CEO at Mirae said: “We are excited to partner with Daiwa Asset Management, which is one of Japan’s largest asset managers. Both Daiwa Asset Management and Mirae Asset Global Investments possess excellent track records in managing Japanese and emerging market equities, respectively. We will work together seamlessly to achieve alpha by leveraging our breadth and depth of local market insights.”
The launch builds on an existing partnership between Mirae and Daiwa. Since 2010, both companies jointly distributed 14 funds together in Korea and Japan, ranging from single country funds, thematic funds, a dividend equity fund and a fixed income fund.
Daiwa Asset Management and Mirae Asset Global Investments aim to launch the Asia Pacific Equity Fund in a wide range of markets, including countries in Asia and Europe.