Mirae Asset may launch a balanced fund, ETF

Mirae Asset Management Company may come up with a balanced fund and an exchange traded fund (ETF) in future to complete its product basket, a top company official said here today.

A balanced fund is meant for investors who are looking for a mixture of safety, income and modest capital appreciation. "We may come up with a balanced fund in the future to complete our portfolio. Also, we are mulling to introduce ETF in the long-run," Mirae Asset Chief Executive Officer Jisang Yoo told reporters.

Mirae Asset, the South Korea-based financial services company will help the company to launch such products here, he added.

Referring to the company's plans in the equity space, Yoo said the company would concentrate on increasing the asset base in this space in the current financial year, adding, the company had reported a small profit last financial year.

Established in November 2006, Mirae Global Investments India is the investment manager to Mirae AMC, which had around Rs 539 crore assets under management in FY13. It also has international stock funds, equity funds, debt and money market schemes as part of its portfolio.