Seoul, Korea-based Mirae Asset Global Investments unveiled its Global Dynamic Bond Fund, which will bet on sovereign, quasi-sovereign and corporate bonds from issuers in both emerging and developed markets, for U.S. investors.
"The Global Dynamic Bond Fund introduces Mirae Asset's fixed income investing capability to the U.S. market," stated Peter Graham, President of the Mirae Asset Discovery Funds. "Similar to our equity offerings, the Global Dynamic Bond Fund offers U.S. investors a tool to access Mirae Asset's expertise in the emerging markets. This new fund responds to fund investors' renewed focus on global bonds as a potential source for income."
The Mirae Asset Global Dynamic Bond Fund was launched on Feb. 29, 2012 with ticker symbols MAGDX (Class A); MCGDX (Class C); and MDBIX (Class I). All share classes charge a management fee of 75 basis points.
Mirae Asset Global Investments has $14.2 billion in fixed-income assets under management in both emerging market bond and global bond asset allocation strategies. The firm also has an office in New York City.
Hung Tran writes for Money Management Executive.