Mirae Asset Investment Managers (India) has opened its new representative office in Dubai, United Arab Emirates (UAE).

The launch of the new office is part of the company’s plan to explore the potential of India-focused funds in overseas markets.

It also seeks to take advantage of the demand for global funds from non-resident Indians (NRIs) and other gloabl investors as well as strengthen ties with regional asset owners.

Opening of new branch, which is situated at The Binary Tower, 1714, Business Bay, Dubai, follows the issue of a professional licence by Dubai Economy and Tourism to Mirae Asset India.

 Mirae Asset Investment Managers (India) CEO Swarup Mohanty said: “The launch of Rep Office in Dubai is an important milestone for the global expansion of our AMC.

“We would like to provide the investors in Middle East region access to our range of India dedicated funds and global funds. Our focus has been to give a good investment experience to investors by maintaining risk management framework and customer centricity which have been instrumental in winning trust of our clients as well as distributor partners.

“The AMC in India is charting the future growth strategy with focus on fixed income and passive offerings, along with equity where it has already created a strong foothold.”

Until the end of August this year, Mirae Asset Mutual Funds managed $14.42bn of asset under management (AUM) throughout 5.4 million portfolios in India.

Currently, Mirae Asset India handles eight equity funds, four hybrid Funds, and nine debt funds, among others.