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Mirae Asset unveils monthly income ETF for retirement



Mirae Asset Global Investments, Korea’s leading asset management firm, will launch the Tiger US Nasdaq-100+ 15% Premium Daily Option ETF on the Korea Exchange. The KRW100bn (USD72m) ETF tracks the Nasdaq-100 index and aims for a steady 15% annual distribution rate by employing a covered call options strategy. This strategy involves selling call options on owned stocks to secure dividends, providing monthly income for investors preparing for retirement. Mirae Asset manages the options directly, reducing costs compared to synthetic ETFs. The firm’s Vice Chairman, Lee Jun-yong, emphasised the importance of monthly dividend ETFs for portfolio diversification. As of May, Mirae Asset’s Tiger ETFs held 48.8% of Korea’s monthly dividend ETF market, valued at KRW8.8tr.

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