Mirae Asset launches retail fund-of-funds after National Growth Fund sells out
What's the deal? Mirae Asset Asset ManagementDealroom has a profile for this one. Try Dealroom → is launching the Mirae Asset Alpha Selection Mixed Asset Investment Trust, a public fund-of-funds that invests in domestic private funds. It targets aggressive long-only equity strategies, expanding a lineup that previously leaned on more stable offerings.
Why now? The launch follows the firm's public participation-type National Growth Fund, which sold out on its launch day. Mirae Asset acted as master fund manager on that vehicle, and it is now building on that momentum.
What's the endgame? The fund lets retail investors access high-quality private funds in small amounts, bypassing the typical 300 million won ($253,000) minimum that has kept most people out. It will focus on long-only funds based on listed stocks, while also running long-short strategies to defend performance when markets turn.
Why it matters: Mirae Asset launched South Korea's first public fund-of-funds investing in private funds in 2017 with Hedge Fund Selection Mixed Asset. That product now manages 440 billion won ($371 million), making it a leading domestic vehicle of its kind.
"We have introduced this product to broaden investor choice based on the private and hedge fund management and selection capabilities that Mirae Asset Asset Management has accumulated over the past 10 years," said Sung Tae-kyung, head of the channel solutions division.
What could go wrong? The fund is pitched at investors seeking high-risk, high-return opportunities, and its aggressive long-only tilt leaves it exposed to equity swings. The parallel long-short strategy is meant to cushion downturns, but returns are not guaranteed.
The signal: By packaging private funds into a low-minimum retail product, Mirae Asset is chipping away at a barrier that long reserved these strategies for wealthy investors. The rapid National Growth Fund sellout suggests strong retail appetite for that access.
Read more: Infomax
Image credit: ehnmark
