Student: Phạm Kim Dung

Student ID: 2112343021

Class: ML67

CASE STUDY 1

Question 1: What is the main business model of MA? What are the main source of
revenues for the company?
MA main business model revolves around asset management, focusing on mutual funds,
ETFs, and alternative investments (asset management, wealth management, investment
banking, and life insurance)
The main sources of revenue for MA are likely to come from its activities in the asset
management and financial services sector. It mainly includes management and performance
fees from invested assets, investment income from various financial instruments,
underwriting fees from securities offerings management, and other income sources such as
commissions, advisory fees, and revenue from insurance premiums. (securities brokerage
and trading fees are the major sources of revenue, accounting for 64.6% of the total revenue
in 2022)

Question 2: How MA develop in the international market, including Vietnam’s market?

MA expands globally by setting up offices in Asia, Europe, and North America. They also
grow through smart acquisitions, buying local asset managers to enter new markets. To
connect with each market, Mirae customizes its products and services to fit the specific
needs of local customers. This helps MA succeed in different parts of the world.
MA enters Vietnam by teaming up with local partners like BIDV. They aim to offer their
existing products to Vietnamese investors while creating new ones tailored to local needs.
However, they face challenges with regulations, competition, and building brand awareness
in Vietnam. Overcoming these challenges is key for Mirae Asset's success in expanding its
presence in the Vietnamese market.

Question 3: What ethical problems that MA might face and how to deal with such
problems?
MA is aware of potential issues, like conflicts of interest from managing various funds, giving
both investment and brokerage services. They're cautious about avoiding misleading info in
marketing and investment advice. MA also takes steps to prevent insider trading and market
manipulation, ensuring their practices stay ethical and trustworthy.
MA tackles challenges by having clear rules and strong oversight to avoid conflicts and
ensure ethical conduct. They believe in being transparent, openly sharing information with
investors about fees, risks, and potential conflicts. MA also focuses on educating investors,
helping them make informed decisions and spot potential issues. These efforts aim to build
trust and maintain ethical standards in the company's operations.