South Korea's Mirae Asset to enter broking, investment banking in India

Broking has been a tricky terrain for foreign players

At a time when foreign financial firms are scaling down in India, Mirae Asset Global Investments is ramping up its presence.

The South Korean firm, which operates a mutual fund business in India, is setting up its broking and investment banking units. Mirae Asset is also launching an alternative investment fund (AIF) aimed at domestic high net-worth individuals, and a $400-500 million real estate fund focussed on investing in commercial leased properties. 

The broking and real estate units will be run as separate entities, while the AIF will be launched under the umbrella of the domestic fund management unit. Mirae Asset Global