Mirae Mulls AMC Purchase In Indonesia

South Korea’s second-largest money managerMirae Asset Global Investments Co.is planning to buy an Indonesian asset management company (AMC),Bloombergreports. The company, which has some $40 billion in assets under management, is aiming to exploit increased income levels in Indonesia, whose middle class grew 62 percent between 2003 and 2010.

Mirae aims to increase its foreign clients’ assets under management, which currently stand below 10 percent, to nearly 50 percent in the years ahead. In line with its policy, the firm purchased 60 percent ofTLG Asset Management Co., a division ofTaiwan Life Insurance Co.6月,并将购买85%的加拿大sBetaPro Management, an exchange- traded funds manager, as per an agreement in July.

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