New York, March 03, 2020 (GLOBE NEWSWIRE) -- Global X ETFs, the New York-based provider of exchange-traded funds, today announced that Tokyo-based Daiwa Securities Group Inc. has made a major investment in the ETF provider. The investment is structured as a $120m convertible bond, which Daiwa can choose to convert to a minority equity stake in Global X in five years. Today’s news comes as a further alignment of the two companies, who previously announced in September of 2019 the formation of a joint venture, Global X Japan, to deliver intelligent investment solutions to Japanese investors.
We’ve seen tremendous interest in Global X’s ETFs across geographies,” said Luis Berruga, CEO of Global X. “Daiwa’s leadership in Japan makes them an ideal partner to further grow our presence in Asia. With this investment and the Global X Japan joint venture, we are laying the groundwork to provide investors in Japan with greater access to innovative and intelligent ETF solutions. We are honored and thrilled to deepen our partnership with Daiwa as we work to expand our capabilities and global reach.”
The U.S. ETF market, which currently holds more than half of worldwide ETF assets, provides a wide range of investors with access to low-cost and efficient investment solutions. Japan’s ETF market is the third largest in the world, yet ETF adoption remains in its early stages. This investment, coupled with the joint venture, will lay the foundation to meet the accelerating demand from Japanese investors for ETF products.
Akihiko Ogino, Senior Executive Managing Director of Daiwa Securities Group Inc. said of the investment: “The collaboration with Global X is an important step in providing Japanese investors with the types of truly innovative investment products that suit their needs. We’re excited to utilize this investment as fuel to further deliver upon the promise to meet our clients’ always evolving needs.”
Global X, which is owned by Seoul-based Mirae Asset Global Investments, provides investors with a suite of investment solutions in areas such as Thematic Growth, Income, and International Access. The firm will leverage its global access and perspectives to continue to deliver client-driven solutions to this new market.
“Since acquiring Global X in 2018, we’ve seen an outstanding level of interest from our clients and peers on this collaboration,” said Mi Seob Kim, CEO of Mirae Asset Global Investments. “We’re extremely proud to be part of this expansion continuing into other reaches of Asia as this global market continues to grow.”
ABOUT GLOBAL X ETFs
Global X was founded in 2008 with the mission of listening to and empowering clients to invest wisely in unexplored and intelligent solutions. Our product lineup features more than 70 ETF strategies. While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Alpha funds to suit a wide range of investment objectives. Global X is a member of Mirae Asset Global Investments Group, a Seoul-based global enterprise which offers asset management expertise worldwide. Explore our ETFs, research and insights, and more at www.globalxetfs.com
ABOUT DAIWA SECURITIES GROUP INC.
Daiwa is one of the leading, comprehensive financial service firms in Asia with a 117-year history. It provides a wide range of products and services to individual investors, primarily in Japan, as well as to corporations, financial institutions, governments, municipalities and governmental agencies both inside and outside of Japan. It conducts its business in four segments: the Retail Division, the Wholesale Division, which comprises of Global Markets and Global Investment Banking, the Asset Management Division and the Investment Division.
DISCLOSURES
This information is not intended to be individual or personalized investment or tax advice and should not be used for trading purposes. Please consult a financial advisor or tax professional for more information regarding your investment and/or tax situation.Information provided by Global X Management Company LLC (Global X ETFs or Global X)