ETF Investing: Mirae to buy Global X, sponsor of popular robotics ETF

Consolidation in the ETF industry is afoot.

Mirae Asset Global Investments late Monday announced that it would buy Global X Funds for an undisclosed sum, the latest in a series of acquisition deals in the red-hot exchange-traded fund industry. The ETF marketplace has seen massive growth of late, although that growth has been principally concentrated within a handful of major players, leaving other sponsors fighting over a relatively small portion of the multi-trillion-dollar space.

Global X, which is best known for its “thematic” funds, which track fast-growing sub-sectors of major industries, has about $10 billion in assets across its 52 ETFs.

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