Mirae Asset Global Investments Hires New US CEO
Senior Portfolio Manager Takes the Helm
NEW YORK, November 16, 2016 -- Mirae Asset Global Investments (USA) LLC ("Mirae Asset USA"), one of the world's largest investors in emerging market equities, today announced that Peter Lee CFA, Ph.D. is stepping into the role of CEO and Chief Investment Officer. Previously, Lee had been the Executive Managing Director of the Global Investment Unit for Mirae Asset Global Investments ("Mirae Asset") in Seoul, South Korea, leading the equity investment team from the group's global headquarters.
In his new role, Lee will be responsible for leading Mirae Asset USA through its next stage of expansion in the US market. In addition, Lee has set a number of ambitious objectives for Mirae Asset USA, focusing on increasing flows into existing products as well as new product development.
"Mirae Asset has established itself as a true competitor in the US market on the strength and heritage of our actively managed, emerging markets focused investment capabilities," says Lee. "Our objective is to continue building on the global strength of the Mirae Asset brand by introducing attractive products and investment options."
Mirae Asset USA is the US-based asset management entity that delivers the investment capability of Mirae Asset, a diversified financial services entity with over $100 billion in client assets under management.1 Mirae Asset USA brings to US investors the client focus and investment resources available to investors in other global markets for two decades.
A veteran of Mirae Asset, Lee has held senior investment strategy and executive management roles at several global entities within the group since 2014. Lee has a Doctoral degree in Economics from the University of Illinois at Urbana-Champaign. He also holds a Master of Arts degree in economics and a Bachelor degree in economics from the Seoul National University.
Lee steps into the CEO role that had been vacated by the departure of Peter Graham.
About Mirae Asset Global Investments
Mirae Asset Global Investments is one of the world's largest investment managers in emerging market equities.2 With over 640 employees, Mirae Asset offers a breadth of emerging markets expertise from its offices in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the U.S., and Vietnam. The firm manages over $100 billion in assets globally, of which more than $18 billion is invested in emerging market equities (as of 9/30/16). investments.miraeasset.us
1as of September 30, 2016
2Source: Investments & Pensions Europe, November 2015
Risk: There can be no guarantee that any strategy (risk management or otherwise) will be successful. All investing involves risk, including potential loss of principal.
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, legal, 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 U.S. investments.
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, contact your financial advisor or call (888) 335-3417. Please read the prospectus carefully before investing.
Mirae Asset Global Investments (USA) LLC is the investment advisor for the Mirae Asset Discovery Funds. The Mirae Asset Discovery Funds are distributed by Funds Distributor, LLC.
# # #