4.A: Firm Description and Principal
Owners
Mirae Asset Global Investments (USA) LLC (the “Adviser”) is a
Delaware limited liability company organized in April 2008 and
located in New York, NY. The Adviser has been registered with
the SEC since August 2008.
The Adviser is a wholly-owned subsidiary of Mirae Asset
Global Investments (USA) Inc. The Adviser’s parent is
majority-owned by Mirae Asset Global Investments Co., Ltd.
(“Mirae Asset Korea”) and partially owned by Mirae Asset
Global Investments (Hong Kong) Ltd. (“Mirae Asset Hong
Kong”).
4.B: Types of Advisory Services
The Adviser provides investment management services as
follows:
1. Sub-manager to non-U.S. affiliate investment vehicles
including SICAVs1, established under the laws of Luxem-
bourg, that are managed by Mirae Asset Hong Kong,
foreign investment trusts, index funds and private funds
managed by Mirae Asset Korea and wrap products
managed and sponsored by Mirae Asset Securities Co.,
Ltd. (“Mirae Asset Securities) (collectively the “Foreign
Funds”) and ETFs managed by Global X and Horizons
ETFs Management (Canada) (collectively the “ETFs”);
2. Adviser may provide services to separately managed
accounts (collectively “SMAs”), according to client
investment objectives as specified in the investment
management agreements;
3. Adviser to private investment funds, including venture
capital funds and real estate funds (“Private Funds”), that
are exempt from registration under the 40 Act and whose
securities are not registered under the Securities Act of
1933, as amended. As the investment adviser of the
Private Funds, the Adviser along with the general partners
of the Private Funds, identify investment opportunities for,
and participate in the acquisition, management, monitoring
and disposition of investments of, each applicable Private
Fund. Investment advice is provided directly to the Private
Funds, subject to the discretion and control of the
applicable Private Fund’s general partner, and not
individually to the investors in
a Private Fund. Services
are provided to a Private Fund in accordance with an
advisory agreement and/or organizational documents of a
Private Fund. Investment restrictions, if any, are set forth
in the organizational or offering documents of the Private
Fund, advisory agreements and/or side letter agreements
1
A “SICAV,” which stands for Société d’investissement à capital
variable, is a type of open-ended investment fund with variable share
capital that may invest in transferable securities, money market
negotiated with investors in the Private Fund (such
documents collectively, “Organizational Documents”).
The Adviser mainly focuses on investments in equity and fixed-
income securities, principally in global and emerging market
equities and global and high-yield fixed income securities.
In Private Funds, the Adviser primarily invests in private equity
securities of companies in the technology sector and real
estate. Investments may range across all stages of
development.
4.C: How Services are Tailored to Fit
Client Needs
The Adviser formulates investment objectives, and directs and
manages the investment and reinvestment of its products
subject to the fundamental and non-fundamental investment
policies adopted by the Foreign Funds, ETFs, SMAs and
Private Funds. These policies are provided in the registration
statements of the Foreign Funds, and ETFs and management
or sub-management agreements. As for the SMA clients, the
Adviser provides investment advisory services specifically
tailored to the investment objectives and risk tolerance, as
provided by the client, of such individual clients. These policies
are provided in the Organizational Documents of the Private
Funds.
4.D: Wrap Fee Programs
The Adviser does not sponsor Wrap Fee Programs.
4.E: Management of Client Assets
As of February 29, 2024, the Adviser’s assets under
management for which it has investment discretion are
$4,231,054,757 and its assets under management for which it
does not have investment discretion are $8,835,425.