­Mirae Asset Welcomes Stewart Aldcroft as Independent Non-Executive Director of Global X Exchange Traded Funds Series OFC


  • Stewart Aldcroft brings with him three decades of experience in Asia’s fund industry.
  • Appointment will further enhance fund governance framework of the Global X Exchange Traded Funds OFC and demonstrates Mirae Asset’s commitment to the highest standards of fund governance.

HONG KONG, Dec. 8, 2021 /PRNewswire/ — Mirae Asset Global Investments (Hong Kong) Limited (the "firm" or "Mirae Asset") today announced it has appointed Stewart Aldcroft to serve as an independent non-executive director of the Global X Exchange Traded Funds Series OFC (the "OFC"). The esteemed industry veteran is the first independent director to serve on the OFC’s board of directors and joins board members Jung Ho Rhee and Byung Ha Kim.

The Global X Exchange Traded Funds Series OFC is a Hong Kong public umbrella open-ended fund company with variable capital that was incorporated in 2019. It currently has 10 sub-funds in the form of exchange traded funds listed on the Stock Exchange of Hong Kong, including the Global X China Electric Vehicle and Battery ETF and Global X China Clean Energy ETF.

This appointment demonstrates Mirae Asset’s commitment to upholding investors’ interests by applying the highest standards of fund governance. Stewart brings with him decades of expertise in Asia’s fund management industry. He was previously Chairman of Cititrust Limited in Hong Kong and Senior Advisor for Citi’s Securities Services business in the Asia Pacific. He has also held a variety of positions for traditional, hedge, structured and alternative fund houses across Asia.

Jung Ho RHEE, Chief Executive Officer of Mirae Asset, said: "We are thrilled to welcome Stewart as an independent non-executive director of the Global X Exchange Traded Funds Series OFC. His extensive experience and expertise will further enhance the fund governance framework we have put in place to prioritize the interests of our investors."

Stewart ALDCROFT, Director of Global X Exchange Traded Funds Series OFC, said: "I am delighted to join the board of Global X Exchange Traded Funds Series OFC as an independent non-executive director, and to join an organization that I know well in both Hong Kong and Korea that is so deeply committed to developing the ETF business in Hong Kong and beyond. I look forward to sharing and developing new ideas for further expansion of the business."

About Stewart Aldcroft

Stewart was previously Chairman of Cititrust Limited in Hong Kong and also Senior Advisor for Citi’s Securities Services business in the Asia Pacific. In this role, he was responsible for and had success with assisting the business develop new initiatives and grow its client base across the Asia Pacific region, as well as advising Citi’s global fund manager clients on accessing the region and especially market entry into China.

Prior to his time at Cititrust Limited, Stewart was Head of Business Development for beta products at Enhanced Investment Products Limited, and helped develop a suite of ETFs for asset managers based in Hong Kong. He has had a long career in business development and client relationship management for traditional, hedge, structured and alternatives fund houses across Asia, including three years as a Regional Director at Horizon21 (Hong Kong) Limited and three years at Investec Asset Management Asia Limited as Managing Director.

His other previous roles include Head of Business Development and Marketing for investment services at Standard Chartered Bank (Hong Kong) Limited, Marketing and Sales Director at Franklin Templeton Investment (Asia) Limited, Executive Director at HSBC Asset Management and Associate Director at Schroders Asia.

As a frequent participant in fund management industry events, Stewart has over the years held various memberships with the Hong Kong Securities Institute Education and Seminars Committee, AIMA Hong Kong Education Committee and Chapter Executive Committee, as well as the Hong Kong Investment Funds Association Executive Committee.

About Mirae Asset Global Investments Group

Mirae Asset Global Investments Group (the "group") is an asset management organization with over US$218 billion in assets under management as of September 2021. The organization provides a diverse range of investment products including mutual funds, exchange traded funds ("ETFs") and alternatives. Operating out of 14 offices worldwide, the group has a global team of more than 1,000 employees, including more than 200 investment professionals.

The group’s global ETF platform features a line-up of 368 ETFs that offer investors high quality and cost-efficient exposure to newly emerging investment themes and disruptive technologies in the global markets.[1] The group’s ETFs have combined assets under management of US$73.7 billion and are listed in Brazil, Canada, Colombia, Hong Kong, India, Japan, Korea, United Kingdom and the United States.[2]

Please visit our Hong Kong website: www.globalxetfs.com.hk

[1] Source: Mirae Asset, September 30, 2021.

[2] Ibid.

Disclaimer

This document is for Hong Kong investors only. This document is provided for information and illustrative purposes and is intended for your use only. It is not a solicitation, offer or recommendation to buy or sell any security or other financial instrument. The information contained in this document has been provided as a general market commentary only and does not constitute any form of regulated financial advice, legal, tax or other regulated service.

Certain of the statements contained in this document are statements of future expectations and other forward-looking statements. Views, opinions and estimates may change without notice and are based on a number of assumptions which may or may not eventuate or prove to be accurate. Actual results, performance or events may differ materially from those in such statements.

Investment involves risk. Past performance is not indicative of future performance. It cannot be guaranteed that the performance of the Funds will generate a return and there may be circumstances where no return is generated or the amount invested is lost. It may not be suitable for persons unfamiliar with the underlying securities or who are unwilling or unable to bear the risk of loss and ownership of such investment. Before making any investment decision, investors should read the Prospectus for details and the risk factors. Investors should ensure they fully understand the risks associated with the Funds and should also consider their own investment objective and risk tolerance level. Investors are advised to seek independent professional advice before making any investment.

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