Mirae Asset Global Investments Launches Global Equity Fund With an Emerging Markets Focus

Emerging Markets Expert Expands Its Suite of Great Consumer Funds

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| Source: Mirae Asset Global Investments (USA) LLC

NEW YORK, Feb. 2, 2012 (GLOBE NEWSWIRE) -- Mirae Asset Global Investments, one of the world's largest emerging market equity investment managers,1 today announced the launch of the Global Great Consumer Fund. This new mutual fund invests in both emerging markets and developed markets, and represents the first time the firm has offered developed-market exposure in one of its U.S. funds. As with the existing Mirae Asset Discovery Funds, the new Global Great Consumer Fund aims to take advantage of the macroeconomic effects currently redefining the world's emerging market economies.

"The new Global Great Consumer Fund takes Mirae Asset's established expertise with strategies targeting consumption in the emerging markets and applies it to equity markets in both emerging and developed economies," said Joon Kwun, President and CEO of Mirae Asset Global Investments (USA). "Despite ongoing volatility, investors continue to focus on investment opportunities outside the U.S. Our Global Great Consumer Fund seeks companies poised to benefit from the rapid growth in emerging markets, regardless of whether those companies are headquartered in the emerging markets or the developed markets."

The Mirae Asset Global Great Consumer Fund was launched with ticker symbols MGCAX (Class A); MGGCX (Class C); and MIGGX (Class I). 

The Great Consumer Funds     

Mirae Asset's proprietary "Great Consumer" investment philosophy is at the core of a number of the firm's investment products. The firm defines Great Consumer as the collective direct and indirect economic effect resulting from increased consumption activities and growing purchasing power of individuals within the world's emerging markets. Great Consumer responds to the expanded purchasing power of the rising middle class which is a significant trend in the emerging markets. In 2010, the firm introduced this philosophy in two funds, the Global Emerging Markets Great Consumer Fund (MECGX) and the Asia Great Consumer Fund (MGCEX). The Great Consumer funds invest in companies that Mirae Asset believes will benefit from the secular change in consumption patterns taking place in the world's developing economies.

The Great Consumer approach embodies the investment opportunities resulting from growing consumption in the emerging markets. Mirae Asset Global Investments believes Great Consumer has the potential to be sustained by population growth, industrialization, urbanization and income expansion across the emerging economies of the world.

A report released last year by Mirae Asset examined some of the emerging markets trends related to consumption in the emerging markets.2  It noted that the emerging markets' average household savings rate is 19.0%, well above the developed markets' average of 9.7%. In terms of age, the average median age of the population in the emerging markets is 30.6 years, notably below the average median age of the population in developed markets, 40.5 years. The report noted that the size of emerging markets populations are collectively about five times the populations in global developed markets. Moreover, rates of population increases in emerging markets are expected to be ten times those of developed markets between 2010 and 2015. Given this massive absolute population size and its projected increase, the firm believes that the emerging economies have the potential to be natural drivers of global consumption, as they may provide substantial numbers of consumers across different sectors and trends.

Risk: Investments in the Funds involve risk, including the possible loss of principal. This press release is not a solicitation to buy nor offer to sell securities. An offering can only be made by prospectus, which can be obtained from Mirae Asset USA. Equity Securities Risk; Stock Market Volatility - Equity securities include common and preferred stocks. Stock markets are volatile. The value of equity securities is affected by changes in a company's financial condition and overall market and economic conditions. Preferred stock may be subject to optional or mandatory redemption provisions. 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, 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. 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 1-800-335-3412. 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 is one of the world's largest investment managers in emerging market equities (source: Investments & Pensions Europe, January 2012). With over 650 employees including more than 135 dedicated investment professionals, Mirae Asset has offices in Brazil, China, Hong Kong, India, Korea, Taiwan, the U.K., the U.S. and Vietnam. Headquartered in Seoul, the firm manages over $50 billion in assets globally, of which more than $17 billion is invested in emerging market equities (as of December 31, 2011). Mirae Asset Global Investments (USA) is focused on providing emerging market equity 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

1 Source: Investment & Pensions Europe. January 2012.

2 Source: "Demographics in Emerging Markets: Hope or Hype?" Mirae Asset Global Investments, May 2011.

John McInerney
Makovsky + Company

(212) 508-9628

Priscilla Li
Makovsky + Company

212-508-9659