Mirae Asset's TIGER US S&P500 ETF tops 20 trillion won in net assets

Mirae Asset Global Investments announced Wednesday that its TIGER US S&P500 exchange-traded fund (ETF) has surpassed 20 trillion won ($12.9 billion) in net assets.

The TIGER US S&P500 ETF reached the 20 trillion won mark roughly five years and 11 months after its August 2020 listing, setting the fastest pace to that milestone among all ETFs listed in South Korea. Based on Tuesday's closing price, the fund's net assets stood at 20.29 trillion won.

Mirae Asset attributed the growth to consistent buying by retail investors. "The TIGER US S&P500 is a physically replicated ETF available through pension savings and retirement pension accounts, and it has established itself as the go-to product for long-term investment in the benchmark US index," the company said.

Retail investors poured a net 3.19 trillion won into the fund in the first half of this year, the largest net retail inflow among all ETFs tracking the S&P 500 index.

According to Korea Exchange, the ETF closed at 28,865 won on Tuesday. Its three-month return, based on Tuesday's closing price, stood at 19.22 percent.

Kim Nam-gi, head of Mirae Asset Global Investments' ETF management division, called the milestone "a symbolic landmark showing that long-term, installment-based investing through pension accounts is taking root in Korea's investment culture." He added that the company would "do its utmost to keep the fund positioned as the leading product helping investors build stable retirement assets."