ETF leader will harness global strength and reach, coupled with its local expertise, to offer expanded investment opportunities for Canadians
TORONTO, March 6, 2024 /PRNewswire/ – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs” or the “Company“), a leading Canadian ETF provider and wholly owned subsidiary of Mirae Asset Financial Group (“Mirae Asset“), is announcing it will rebrand as Global X Investments Canada Inc. (“Global X“), in May 2024.
The move will advance Horizons ETFs, Canada’s 4th largest ETF provider, into the Mirae Asset-owned Global X ETFs brand, part of one of the world’s largest ETF platforms, with an international footprint spanning Europe, Asia, South America and Australia, as well as the United States. Combined, Mirae Asset’s ETF businesses have total assets of over CAD $154 billion globally.
Under the Global X brand, the Company will be better equipped to offer the best of both worlds: the strength, extended reach and global network of experts that come with an internationally recognized brand, with continued local expertise and support to navigate the Canadian investment landscape. This growth positions the Company to transform Canada’s investment landscape for the better and build a more global and innovative investment future for all Canadians.
The Company’s suite of ETFs – one of Canada’s largest and longest running – will continue to trade under their current ticker symbols and mandates, while the Horizons branded fund names will be updated to the Global X brand.
“With this next step in our journey, we’re ready for yours – we can’t wait to help build the future of investing for all Canadians as Global X,” said Rohit Mehta, President and CEO of Horizons ETFs. “As we harness the strength and reach of our global network, the investment opportunities for Canadians will also expand. By working with us, our investors can expect greater global insights and an enhanced investment experience, while continuing to receive trusted Canadian expertise. Today, we’re ready for your future.”
This announcement follows the Company’s recent financial milestone where it surpassed $30 billion in assets under management (AUM), following a gain of $7.6 billion in 2023, the largest year-over-year growth in its history. In 2011, the Company was acquired by South Korea’s Mirae Asset Global Investments, one of the world’s largest asset managers and part of Mirae Asset Financial Group, which manages more than CAD $710 billion in assets across 19 countries and markets. Since its acquisition, the Company has grown rapidly, with assets increasing nine-fold since 2011.
“Over its history, Horizons ETFs has built a reputation as a ‘Permanent Innovator’ in the Canadian market,” said Mirae Asset Founder and Global Strategy Officer Hyeon-Joo Park. “Now, under the Global X brand, that status and the services that come with it, become exactly that – global. With the full strength of Mirae Asset behind it, I am confident their on-the-ground expertise in Canada under the leadership of CEO Rohit Mehta, alongside our international network’s opportunities, technologies and insights from experts across the world will create a better investment experience for Canadians.”
Over its nearly two-decade history, the Company has also achieved worldwide acclaim for innovation across the global financial landscape, including multiple first-in-the-world and first-in-Canada ETF launches.
“By aligning to the Global X brand and the bench strength it brings, we’re building a new model in our industry for developing and delivering innovative products for Canadians,” said Mr. Mehta. “Like us, Mirae Asset has always been willing to be a force of transformation and positive disruption in the investment industry and now, we’re uniting our efforts, like never before. Moving forward, we will further leverage our global investment expertise, access to top experts across the world and their on-the-ground knowledge in and across five continents.“
Over the next five years as Global X, the Company will continue its growth plan by harnessing the global strength, reach, and innovation of Mirae Asset to go beyond and deliver exceptional investment products and opportunities for Canadians. Global X will move rapidly to expand product offerings and advance new client services in a greater way than ever before.
“One of the aspects of this transformation that I’m most excited about is what we’ll be able to unlock and offer to our investors, from best-in-class investments in the Global X network, to exceptional client experiences that include more powerful ways to understand and appreciate your investments,” said Mr. Mehta. “We thrive on being at the forefront of innovation and using it to serve Canadians better. With a fuller, larger and more innovative product shelf and toolkit, we are positioned to be the fund provider of choice for investors across Canada.“
The Company’s website will remain www.HorizonsETFs.com until the rebrand date in May 2024, at which time the Company will begin to use www.GlobalX.ca.
Horizons ETFs Management (Canada) Inc. is an innovative financial services company with one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs currently has more than $30 billion of assets under management and 117 ETFs listed on major Canadian stock exchanges. Horizons ETFs is a wholly owned subsidiary of the Mirae Asset Financial Group, which manages more than $710 billion of assets across 19 global markets around the world.
SOURCE Horizons ETFs Management (Canada) Inc.
