Mirae Asset Global Investments announced Monday that its European exchange-traded fund assets under management have exceeded $2 billion, just four years after entering the market in late 2020.

Global X EU, the ETF subsidiary of Mirae Asset, manages 42 ETF products across Europe as of Thursday. This year, the company achieved a remarkable growth rate of nearly 136 percent year-on-year, with AUM rising from $850 million to $2 billion.

Europe is the world’s second-largest ETF market, following the US. Global X EU made its entry into the region in 2020 by listing two thematic ETFs -- Video Games & Esports UCITS, and Telemedicine & Digital Health UCITS -- on the London Stock Exchange.

The firm has since established a strong presence in thematic ETFs, particularly with the launch of Global X US Infrastructure Development UCITS, which focuses on US infrastructure enterprises. The ETF has become a flagship product for the company, with net assets of 758 billion won ($527 million). In response to growing demand from European investors, Global X EU introduced the Global X European Infrastructure Development UCITS in September.

In addition to thematic ETFs, Global X EU has gained recognition for its income-oriented and materials-focused ETFs. The company plans to expand its offerings further with products tailored to local investor preferences.

“ETFs currently account for 18 percent of the global fund market but represent only about 9 percent in Europe, indicating significant growth potential,” said Kim Young-hwan, a manager at Mirae Asset Global Investments. “We aim to drive innovation in the European ETF market by leveraging our expertise from competitive markets such as the US, Canada and Korea.”