NPORT-EX 2 5534_0001489215.htm

Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Fund  July 31, 2020 (Unaudited)

 

   Shares   Value 
Common Stocks (98.0%)          
AL Rajhi Bank (Banks)   41,669   $654,429 
Alibaba Group Holding Ltd.* (Internet & Direct Marketing Retail)   29,728    943,612 
Alibaba Group Holding Ltd. ADR* (Internet & Direct Marketing Retail)   12,769    3,205,274 
Azul SA ADR* (Airlines)   24,750    285,615 
Banco BTG Pactual SA (Capital Markets)   27,600    459,153 
CD Projekt SA* (Entertainment)   3,200    343,654 
China Overseas Land & Investment Ltd. (Real Estate Management & Development)   243,000    739,965 
China Petroleum & Chemical Corp. (Oil, Gas & Consumable Fuels)   2,078,000    890,177 
China Resources Gas Group Ltd. (Gas Utilities)   152,000    749,203 
Cipla Ltd. (Pharmaceuticals)   91,679    882,567 
Clicks Group Ltd. (Food & Staples Retailing)   22,100    295,255 
Credicorp Ltd. (Banks)   2,700    343,359 
CSPC Pharmaceutical Group Ltd. (Pharmaceuticals)   322,400    676,407 
Dabur India Ltd. (Personal Products)   99,762    684,861 
Dalmia Bharat Ltd. (Construction Materials)   108,453    1,102,761 
Detsky Mir PJSC (Specialty Retail)   293,091    461,841 
FirstRand Ltd. (Diversified Financial Services)   115,795    263,087 
Gail India Ltd. (Gas Utilities)   477,692    617,170 
Geely Automobile Holdings Ltd. (Automobiles)   300,000    630,960 
Grupo Financiero Banorte Sab de CV* (Banks)   126,800    454,264 
Halyk Savings Bank of Kazakhstan JSC GDR (Banks)   24,400    270,840 
HDFC Bank Ltd.* (Banks)   85,534    1,180,891 
Hindustan Petroleum Corp., Ltd. (Oil, Gas & Consumable Fuels)   299,417    860,537 
ICICI Bank Ltd.* (Banks)   318,023    1,474,322 
Industrial & Commerical Bank of China Ltd., H Shares (Banks)   1,729,000    1,021,770 
KAZ Minerals PLC (Metals & Mining)   75,262    532,506 
Kingsoft Cloud Holdings Ltd. ADR* (IT Services)   5,661    198,701 
Lemon Tree Hotels Ltd.* (Hotels, Restaurants & Leisure)   1,224,474    386,293 
Li-Ning Co. Ltd. (Textiles, Apparel & Luxury Goods)   287,000    923,943 
Lojas Renner SA (Multiline Retail)   73,700    580,325 
MediaTek, Inc. (Semiconductors & Semiconductor Equipment)   59,000    1,412,100 
Meituan Dianping, Class B* (Internet & Direct Marketing Retail)   22,100    547,217 
MercadoLibre, Inc.* (Internet & Direct Marketing Retail)   654    735,501 
Mr. Price Group Ltd. (Specialty Retail)   36,331    269,385 
Narayana Hrudayalaya Ltd. (Health Care Providers & Services)   189,559    734,721 
NAVER Corp. (Interactive Media & Services)   2,695    680,990 
New Oriental Education & Technology Group, Inc. ADR* (Diversified Consumer Services)   4,340    608,468 
Novatek PJSC GDR (Oil, Gas & Consumable Fuels)   3,650    535,090 
Phu Nhuan Jewelry JSC (Textiles, Apparel & Luxury Goods)   225,970    503,109 
Ping An Insurance (Group) Co. of China Ltd., H Shares (Insurance)   100,500    1,064,638 
POSCO (Metals & Mining)   4,069    660,973 
Prosus NV* (Internet & Direct Marketing Retail)   9,421    910,987 
Raia Drogasil SA (Food & Staples Retailing)   24,900    595,456 
Reliance Industries Ltd. (Oil, Gas & Consumable Fuels)   39,587    1,093,879 
Rumo SA* (Road & Rail)   157,827    676,902 
Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals)   56,699    2,755,936 
Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals)   32,047    1,331,705 
Samsung SDI Co. Ltd. (Electronic Equipment, Instruments & Components)   2,865    956,042 
Sberbank of Russia PJSC ADR* (Banks)   44,930   535,341 
SBI Life Insurance Co. Ltd.* (Insurance)   70,763    863,496 
Security Bank Corp. (Banks)   354,920    664,563 
Shinhan Financial Group Co. Ltd. (Banks)   42,915    1,084,404 
Sun Art Retail Group Ltd. (Food & Staples Retailing)   390,500    542,158 
Suzano SA* (Paper & Forest Products)   70,800    573,372 
Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment)   132,000    1,917,648 
TAL Education Group ADR* (Diversified Consumer Services)   7,256    567,202 
Tencent Holdings Ltd. (Interactive Media & Services)   56,400    3,886,092 
Tencent Music Entertainment Group ADR* (Entertainment)   39,558    638,466 
Titan Co. Ltd.* (Textiles, Apparel & Luxury Goods)   48,077    670,472 
Tonghua Dongbao Pharmaceutical Co. Ltd. (Pharmaceuticals)   416,531    818,202 
Tongwei Co., Ltd., Class A (Food Products)   275,869    1,079,049 
Universal Robina Corp. (Food Products)   271,220    675,649 
Vietnam Technological & Commercial Joint Stock Bank* (Banks)   803,880    629,549 
Vipshop Holdings Ltd. ADR* (Internet & Direct Marketing Retail)   31,065    707,350 
Wal-Mart de Mexico Sab de CV (Food & Staples Retailing)   260,500    613,266 
Yandex NV, Class A* (Interactive Media & Services)   12,080    695,083 
TOTAL COMMON STOCKS (Cost $50,877,370)        55,348,203 
TOTAL INVESTMENTS (Cost $50,877,370) — 98.0%        55,348,203 
Other Net Assets (Liabilities) — 2.0%        1,119,701 
NET ASSETS — 100.0%       $56,467,904 

 

* Non-income producing security

ADR American Depositary Receipt
GDR Global Depositary Receipt

 

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Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Fund  July 31, 2020 (Unaudited)

 

The Emerging Markets Fund invested in the following industries as of July 31, 2020:

 

   Value   % of
Net Assets		 
Airlines  $285,615    0.5%
Automobiles   630,960    1.1%
Banks   8,313,732    14.6%
Capital Markets   459,153    0.8%
Construction Materials   1,102,761    2.0%
Diversified Consumer Services   1,175,670    2.1%
Diversified Financial Services   263,087    0.5%
Electronic Equipment, Instruments & Components   956,042    1.7%
Entertainment   982,120    1.7%
Food & Staples Retailing   2,046,135    3.7%
Food Products   1,754,698    3.1%
Gas Utilities   1,366,373    2.4%
Health Care Providers & Services   734,721    1.3%
Hotels, Restaurants & Leisure   386,293    0.7%
Insurance   1,928,134    3.4%
Interactive Media & Services   5,262,165    9.4%
Internet & Direct Marketing Retail   7,049,941    12.5%
IT Services   198,701    0.4%
Metals & Mining   1,193,479    2.1%
Multiline Retail   580,325    1.0%
Oil, Gas & Consumable Fuels   3,379,683    6.0%
Paper & Forest Products   573,372    1.0%
Personal Products   684,861    1.2%
Pharmaceuticals   2,377,176    4.2%
Real Estate Management & Development   739,965    1.3%
Road & Rail   676,902    1.2%
Semiconductors & Semiconductor Equipment   3,329,748    5.9%
Specialty Retail   731,226    1.3%
Technology Hardware, Storage & Peripherals   4,087,641    7.2%
Textiles, Apparel & Luxury Goods   2,097,524    3.7%
Other Net Assets   1,119,701    2.0%
Total  $56,467,904    100.0%

 

The Emerging Markets Fund invested in securities with exposure to the following countries as of July 31, 2020:

 

   Value   % of
Net Assets		 
Argentina  $735,501    1.3%
Brazil   3,170,823    5.6%
China   18,273,279    32.4%
Hong Kong   2,165,575    3.8%
India   10,551,970    18.7%
Kazakstan   270,840    0.5%
Mexico   1,067,530    1.9%
Netherlands   910,987    1.6%
Peru   343,359    0.6%
Philippines   1,340,212    2.4%
Poland   343,654    0.6%
Russia   2,227,355    3.9%
Saudi Arabia   654,429    1.2%
South Africa   827,727    1.5%
South Korea   7,470,050    13.2%
Taiwan   3,329,748    5.9%
United Kingdom   532,506    0.9%
Vietnam   1,132,658    2.0%
Other Net Assets   1,119,701    2.0%
Total  $56,467,904    100.0%

 

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Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Great Consumer Fund  July 31, 2020 (Unaudited)

 

   Shares   Value 
Common Stocks (95.0%)          
AL Rajhi Bank (Banks)   645,361   $10,135,659 
Alibaba Group Holding Ltd.* (Internet & Direct Marketing Retail)   2,055,100    65,232,009 
Alibaba Health Information Technology Ltd.* (Health Care Technology)   9,068,000    25,039,058 
Apollo Hospitals Enterprise Ltd. (Health Care Providers & Services)   1,295,404    28,998,209 
Asian Paints Ltd. (Chemicals)   801,738    18,385,610 
Ayala Land, Inc. (Real Estate Management & Development)   16,466,105    11,159,712 
Azul SA ADR* (Airlines)   383,850    4,429,629 
Banco BTG Pactual SA (Capital Markets)   469,500    7,810,598 
Britannia Industries Ltd. (Food Products)   413,033    21,111,158 
CD Projekt SA* (Entertainment)   53,600    5,756,204 
China International Travel Service Corp. Ltd., Class A (Hotels, Restaurants & Leisure)   1,003,797    34,948,445 
China Merchants Bank Co. Ltd. (Banks)   4,645,500    21,668,730 
China Overseas Land & Investment Ltd. (Real Estate Management & Development)   6,132,500    18,674,211 
Clicks Group Ltd. (Food & Staples Retailing)   355,300    4,746,774 
CP All Public Co. Ltd. (Food & Staples Retailing)   4,714,300    10,319,576 
Credicorp Ltd. (Banks)   41,663    5,298,284 
Crompton Greaves Consumer Electricals* (Household Durables)   527,278    1,720,530 
Detsky Mir PJSC (Specialty Retail)   4,849,925    7,642,310 
FirstRand Ltd. (Diversified Financial Services)   1,726,109    3,921,735 
Foshan Haitian Flavouring & Food Co. Ltd., A Shares (Food Products)   863,491    18,567,624 
Galaxy Entertainment Group Ltd. (Hotels, Restaurants & Leisure)   4,148,000    28,259,557 
Grupo Financiero Banorte Sab de CV* (Banks)   2,026,000    7,258,186 
Haidilao International Holding Ltd. (Hotels, Restaurants & Leisure)   2,809,000    12,921,233 
Halyk Savings Bank of Kazakhstan JSC GDR (Banks)   393,500    4,367,850 
HDFC Bank Ltd.* (Banks)   2,168,285    29,935,565 
Hindustan Unilever Ltd. (Household Products)   654,388    19,331,378 
Jiangsu Hengrui Medicine Co. Ltd., Class A (Pharmaceuticals)   1,595,452    21,574,434 
KAZ Minerals PLC (Metals & Mining)   1,176,441    8,323,744 
LG Household & Health Care Ltd. (Personal Products)   18,756    21,587,035 
Li-Ning Co. Ltd. (Textiles, Apparel & Luxury Goods)   6,679,000    21,501,794 
Lojas Renner SA (Multiline Retail)   1,178,540    9,280,003 
MercadoLibre, Inc.* (Internet & Direct Marketing Retail)   10,285    11,566,717 
Mr. Price Group Ltd. (Specialty Retail)   537,947    3,988,746 
Nestle India Ltd. (Food Products)   90,742    20,041,540 
New Oriental Education & Technology Group, Inc. ADR* (Diversified Consumer Services)   224,795    31,516,259 
Ping An Healthcare & Technology Co. Ltd.* (Health Care Technology)   1,299,700    22,203,621 
Ping An Insurance (Group) Co. of China Ltd., H Shares (Insurance)   2,236,000    23,686,869 
Prosus NV* (Internet & Direct Marketing Retail)   155,134    15,001,062 
PT Bank Central Asia TBK (Banks)   10,722,800    23,024,870 
Raia Drogasil SA (Food & Staples Retailing)   391,400    9,359,891 
Rumo SA* (Road & Rail)   2,599,111    11,147,305 
Sberbank of Russia PJSC ADR* (Banks)   718,342    8,559,045 
Shanghai International Airport Co. Ltd., Class A (Transportation Infrastructure)   2,571,018    25,023,175 
Suzano SA* (Paper & Forest Products)   1,200,600    9,723,023 
TAL Education Group ADR* (Diversified Consumer Services)   84,478    6,603,645 
TCS Group Holdings PLC GDR (Banks)   401,549    10,098,957 
Tencent Holdings Ltd. (Interactive Media & Services)   659,300    45,427,311 
Vietnam Dairy Products JSC (Food Products)   1,082,136    4,996,054 
Vipshop Holdings Ltd. ADR* (Internet & Direct Marketing Retail)   90,180   2,053,399 
Wal-Mart de Mexico Sab de CV (Food & Staples Retailing)   4,067,200    9,574,958 
Yandex NV, Class A* (Interactive Media & Services)   214,501    12,342,387 
TOTAL COMMON STOCKS (Cost $685,294,320)        815,845,678 
Foreign Bond (0.0%)NM          
India (0.0%)NM          
Britannia Industries Ltd., 8.00%, 8/28/22   11,930,100    166,002 
TOTAL FOREIGN BOND (Cost $166,146)        166,002 
TOTAL INVESTMENTS (Cost $685,460,466) — 95.0%        816,011,680 
Other Net Assets (Liabilities) — 5.0%        42,564,544 
NET ASSETS — 100.0%       $858,576,224 

 

* Non-income producing security
NM Not meaningful, amount less than 0.05%

ADR American Depositary Receipt
GDR Global Depositary Receipt

 

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Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Great Consumer Fund  July 31, 2020 (Unaudited)

 

The Emerging Markets Great Consumer Fund invested in the following industries as of July 31, 2020:

 

   Value   % of
Net Assets		 
Airlines  $4,429,629    0.5%
Banks   120,347,146    14.0%
Capital Markets   7,810,598    0.9%
Chemicals   18,385,610    2.1%
Diversified Consumer Services   38,119,904    4.4%
Diversified Financial Services   3,921,735    0.5%
Entertainment   5,756,204    0.7%
Food & Staples Retailing   34,001,199    4.0%
Food Products   64,882,378    7.6%
Health Care Providers & Services   28,998,209    3.4%
Health Care Technology   47,242,679    5.5%
Hotels, Restaurants & Leisure   76,129,235    8.9%
Household Durables   1,720,530    0.2%
Household Products   19,331,378    2.3%
Insurance   23,686,869    2.8%
Interactive Media & Services   57,769,698    6.7%
Internet & Direct Marketing Retail   93,853,187    10.7%
Metals & Mining   8,323,744    1.0%
Multiline Retail   9,280,003    1.1%
Paper & Forest Products   9,723,023    1.1%
Personal Products   21,587,035    2.5%
Pharmaceuticals   21,574,434    2.5%
Real Estate Management & Development   29,833,923    3.5%
Road & Rail   11,147,305    1.3%
Specialty Retail   11,631,056    1.4%
Textiles, Apparel & Luxury Goods   21,501,794    2.5%
Transportation Infrastructure   25,023,175    2.9%
Other Net Assets   42,564,544    5.0%
Total  $858,576,224    100.0%

 

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Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Great Consumer Fund  July 31, 2020 (Unaudited)

 

The Emerging Markets Great Consumer Fund invested in securities with exposure to the following countries as of July 31, 2020:

 

   Value   % of
Net Assets		 
Argentina  $11,566,717    1.3%
Brazil   51,750,449    6.0%
China   352,928,548    41.0%
Cyprus   10,098,957    1.2%
Hong Kong   71,972,826    8.4%
India   139,689,992    16.3%
Indonesia   23,024,870    2.7%
Kazakstan   4,367,850    0.5%
Mexico   16,833,144    2.0%
Netherlands   15,001,062    1.7%
Peru   5,298,284    0.6%
Philippines   11,159,712    1.3%
Poland   5,756,204    0.7%
Russia   28,543,742    3.3%
Saudi Arabia   10,135,659    1.2%
South Africa   12,657,255    1.5%
South Korea   21,587,035    2.5%
Thailand   10,319,576    1.2%
United Kingdom   8,323,744    1.0%
Vietnam   4,996,054    0.6%
Other Net Assets   42,564,544    5.0%
Total  $858,576,224    100.0%

 

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