Mirae and Daiwa launch co-managed Asian equity fund

Seek to benefit from Asian growth

Mirae Asset Global Investments has launched a new Asia Pacific equity fund, its first to be co-managed with Daiwa Asset Management.

The Mirae Asset Next Asia Pacific fund will invest across multiple industries in the region, which includes Japan. It aims to take advantage of middle class growth, upgrades in economic efficiency, and liberalisation across several Asian countries. The fund is the first product to be co-managed by Mirae and Daiwa AM, which have jointly distributed 14 funds in Korea and Japan since forming a partnership in 2010. Daiwa is the second-largest asset management company in Japan, currently managing $125bn of assets. The product is a sub-fund of the Mirae Asset Global Discovery fund SIC...