Mirae Asset Management said on Wednesday that net assets of its TIGER KRX Gold Spot ETF have surpassed 1 trillion won.
The Korea Exchange said the fund's net assets stood at 1.0607 trillion won at Tuesday's close. Net assets expanded as higher gold prices lifted investment demand and continued inflows from retail investors. The ETF recorded 537.8 billion won in cumulative retail net buying last year, ranking first among newly listed ETFs.
Gold hit fresh record highs last year and posted strong returns. As global economic uncertainty grew, investment demand for gold increased as a major safe-haven asset and an inflation hedge, amid uncertainty over U.S. tariff policy, the start of an interest-rate cut phase and concerns about the credibility of Federal Reserve policy.
Kim Namho, head of Global ETF Management at Mirae Asset Management, said, "Gold had an extremely strong year, including posting its biggest annual return in 46 years, and its upward momentum remains valid this year as well."
Sangyeop Oh
yub@d-today.co.kr