Emerging market shop Mirae Asset Global Investments is shelving two funds from its Mirae Asset Discovery Funds trust, according to a Securities and Exchange Commission filing.
Specifically, the firm is liquidating the Brazil Sector Leader Fund and the China Sector Leader Fund on Oct. 24. The funds closed to new investments effective Sept. 19. A spokesperson for the firm was not immediately available for comments on the funds’ liquidation.
The Brazil fund charged an expense ratio of 175 basis points and was managed by Kim Young-Hwan and the China fund was managed by Byung Ha Kim and Cong Li. Both funds launched on September 2010. 1.75