Mirae Asset Discovery Fds Emerging Markets Great Consumer Fd Cl I
MICGX
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- 1212 Avenue Of The Americas New York NY 10036
- IPO Date
- Sep 22, 2010
- CIK
- 0001489215
- Similar Companies
- Business
- Mirae Asset Discovery Funds Emerging Markets Great Consumer Fund Class I (MICGX) is an open-end mutual fund that seeks long-term capital growth by investing primarily in equity securities of issuers in emerging markets, with a focus on great consumer companies benefiting from rising middle-class consumption trends; the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in such securities, including common stock, preferred stock, convertible securities, and depository receipts of consumer-oriented companies across sectors such as fast-moving consumer goods, automobiles, retail, e-commerce, healthcare, media, entertainment, telecom, financial services, transportation, and hospitality. The fund employs a bottom-up, high-conviction approach to select quality growth companies with high return on equity, sustainable competitive advantages, and flexibility across market capitalizations, targeting shifts in consumption patterns in emerging markets including Asia, Latin America, and other regions. Managed within the Mirae Asset Discovery Funds series, it features an expense ratio of 1.15%, total assets of approximately $430.57 million as of late 2025, and is part of Mirae Asset Global Investments' broader platform offering U.S.-domiciled active equity strategies. Mirae Asset Discovery Funds, established as part of Mirae Asset Global Investments' U.S. expansion with launches of the Discovery series around 2010, operates from headquarters in New York, New York, as an arm of the Seoul-based Mirae Asset Financial Group founded in 1997, which manages over $729.5 billion in global assets across 19 markets. The fund targets institutional and individual investors seeking exposure to diversified emerging markets equities through a concentrated portfolio emphasizing long-term sustainable trends driven by increasing purchasing power in developing economies. In recent developments, Mirae Asset Global Investments has transitioned its emerging markets mutual funds, including strategies akin to MICGX, into active ETFs as part of a broader shift toward exchange-traded products, with the related Emerging Markets Great Consumer ETF (EMC) launched under Global X ETFs featuring sub-advisory from Mirae Asset. The firm continues expanding its U.S. offerings, following historical launches of the Mirae Asset Discovery series and acquisitions such as Global X ETFs, while achieving milestones like over $50 billion in U.S. ETF assets under management as of 2024; no specific reorganizations or funding rounds for MICGX were reported in 2024-2025, though group-wide growth includes surpassing $300 billion in international assets. These initiatives reflect Mirae Asset's strategic focus on innovative investment vehicles amid evolving global demand for emerging markets and thematic equity exposure.