Mirae Asset Global Investments announced on the 6th that it will reduce the total fee for its 'TIGER U.S. S&P 500 ETF' and 'TIGER U.S. Nasdaq 100 ETF' to 0.0068%, which is one-tenth of the previous annual rate of 0.07%.
This marks an additional reduction after lowering it from 0.3% to 0.07% in November 2020, approximately four years ago. The 0.0068% fee is the lowest among the ETFs listed in Korea. Previously, Samsung Asset Management had reduced the total fee for four ETFs tracking U.S. major indices from 0.05% to 0.0099% on April 19 of last year.
Mirae Asset Global Investments stated that it decided to lower fees to reward investors for their strong support of the TIGER U.S. major index ETFs and to expand investment opportunities in U.S. stocks. The 'TIGER U.S. S&P 500 ETF' ranked first in cumulative net purchases by individuals among all domestic ETFs last year.
Mirae Asset explained that the two ETFs, for which fees were lowered, adhere to the principle of distributing excess performance compared to the benchmark index each quarter, without damaging the principal, maintaining excellent performance in the long term.
Kim Nam-ki, head of the ETF management division at Mirae Asset Global Investments, said, 'Since our first entry into the domestic ETF market in 2006, TIGER ETFs have been able to grow into Asia's representative ETF brand with the love of investors, and now we sincerely wish to reciprocate that love.' He added, 'TIGER ETFs will strive to create an era where investments in U.S. major indices can be made with minimal expenses as a long-term investment partner for our clients.'