Set for May, the rebrand will leverage global strengths, promising innovative Canadian investment opportunities
Horizons ETFs Management Inc., a Canadian ETF provider under the Mirae Asset Financial Group umbrella, is set to undergo a significant transformation by rebranding to Global X Investments Canada Inc. in May 2024.
This strategic move is designed to integrate Horizons ETFs, currently the fourth-largest ETF provider in Canada, into the expansive Global X ETFs brand.
This integration is part of Mirae Asset's global ETF platform, which boasts an international presence across Europe, Asia, South America, and Australia, in addition to the United States, managing assets exceeding $154bn.
Under the new Global X brand, the company is poised to leverage the comprehensive strengths and the global network of Mirae Asset, enhancing its capability to deliver a blend of global insight and local expertise, crucial for navigating the Canadian investment landscape.
This evolution is aimed at transforming and enriching the investment environment in Canada, fostering a more connected and innovative future for Canadian investors.
The company's ETF offerings, recognized as one of Canada's largest and most established suites, will maintain their current ticker symbols and mandates post-rebranding. However, the names of the funds previously branded under Horizons will transition to the Global X label.
Rohit Mehta, president, and CEO of Horizons ETFs, shared his excitement about the rebranding, stating, “With this next step in our journey, we’re ready for yours – we can’t wait to help build the future of investing for all Canadians as Global X.”
He emphasized the expanded global investment opportunities and enhanced investment experiences awaiting Canadian investors through this strategic merger.
This announcement follows a notable financial milestone for the company, as it recently exceeded $30bn in assets under management (AUM), marking the largest year-over-year growth in its history.
Since being acquired by Mirae Asset Global Investments, a leading asset management entity with more than $710bn in assets across 19 countries, in 2011, the company has seen a nine-fold increase in assets, illustrating rapid growth and innovation.
Mirae Asset Founder and Global Strategy Officer, Hyeon-Joo Park, commented on the rebranding, “Over its history, Horizons ETFs has built a reputation as a ‘Permanent Innovator’ in the Canadian market.”
He further noted that under the Global X brand, this innovative spirit would attain a global dimension, backed by the full strength of Mirae Asset.
Park expressed confidence in the blend of local expertise and global insights under Rohit Mehta's leadership, anticipating an improved investment experience for Canadians.
Horizons ETFs has been recognized for its innovative contributions to the global financial landscape, including being the first to launch several ETFs in Canada and worldwide.
The alignment with Global X is anticipated to further enhance the development and delivery of innovative products for Canadians. Mehta expressed enthusiasm about the united efforts with Mirae Asset, aimed at transforming and positively disrupting the investment industry on a global scale.
Looking ahead, Global X plans to continue its growth trajectory over the next five years by capitalizing on Mirae Asset's global strength, reach, and innovative capabilities. This strategy includes rapidly expanding product offerings and advancing client services to unprecedented levels.
Mehta is particularly excited about the new possibilities this transformation will unlock for investors, including access to premier investments and exceptional client experiences, reinforcing Global X's position as the preferred fund provider for Canadian investors.
