NPORT-EX 2 5530_0001489215.htm

  

Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Fund  July 31, 2022 (Unaudited)

  

    Shares     Value  
Common Stocks (97.1%)                
AIA Group Ltd. (Insurance)     50,400     $ 508,690  
AL Rajhi Bank* (Banks)     23,863       573,004  
Alibaba Group Holding Ltd.* (Internet & Direct Marketing Retail)     133,580       1,509,240  
Alpha Services and Holdings SA* (Banks)     491,590       436,436  
Banco Bradesco SA, Preference Shares (Banks)     103,420       348,631  
BYD Co. Ltd., Class H (Automobiles)     7,500       274,879  
China International Travel Service Corp. Ltd., Class A (Hotels, Restaurants & Leisure)     20,600       641,839  
Clicks Group Ltd. (Food & Staples Retailing)     19,100       321,708  
Dalmia Bharat Ltd. (Construction Materials)     20,948       423,459  
FirstRand Ltd. (Diversified Financial Services)     87,695       346,604  
Frontera Energy Corp.* (Oil, Gas & Consumable Fuels)     35,700       349,918  
GAIL India Ltd. (Gas Utilities)     300,452       557,207  
Ganfeng Lithium Co. Ltd., Class H (Metals & Mining)     64,680       588,088  
Globant SA* (Software)     450       89,658  
GoerTek, Inc., Class A (Electronic Equipment, Instruments & Components)     49,234       232,972  
Grab Holdings Ltd.* (Road & Rail)     88,488       261,040  
Grupo Financiero Banorte Sab de CV (Banks)     63,500       361,965  
Halyk Savings Bank of Kazakhstan JSC GDR (Banks)     28,450       265,439  
HDFC Bank Ltd. (Banks)     41,343       755,120  
Hindalco Industries Ltd. (Metals & Mining)     98,459       518,075  
Hyundai Motor Co. (Automobiles)     6,862       1,042,277  
ICICI Bank Ltd. (Banks)     146,926       1,523,054  
IHH Healthcare Berhad (Health Care Providers & Services)     822,200       1,181,172  
Infosys Ltd. (IT Services)     29,104       570,135  
Jahez International Co.* (Internet & Direct Marketing Retail)     848       212,370  
JD.com, Inc., Class A (Internet & Direct Marketing Retail)     39,992       1,191,144  
Kasikornbank Public Co. Ltd. NVDR (Banks)     122,800       494,447  
Lemon Tree Hotels Ltd.* (Hotels, Restaurants & Leisure)     585,056       490,292  
LG Chem Ltd. (Chemicals)     1,845       860,758  
Locaweb Servicos de Internet SA (IT Services)     132,100       171,844  
Lojas Renner SA (Multiline Retail)     72,764       357,807  
LONGi Green Energy Technology Co. Ltd. (Semiconductors & Semiconductor Equipment)     86,955       795,963  
Mahindra & Mahindra Ltd. (Automobiles)     67,991       1,001,792  
Mando Corp. (Auto Components)     13,129       582,573  
Marico, Ltd. (Food Products)     86,592       567,297  
MediaTek, Inc. (Semiconductors & Semiconductor Equipment)     10,000       229,968  
Meituan, Class B* (Internet & Direct Marketing Retail)     51,000       1,155,178  
MercadoLibre, Inc.* (Internet & Direct Marketing Retail)     296       240,858  
Mr. Price Group Ltd. (Specialty Retail)     31,071       339,710  
Narayana Hrudayalaya Ltd.* (Health Care Providers & Services)     104,410       872,224  
NAVER Corp. (Interactive Media & Services)     1,313       263,314  
Network International Holdings PLC* (IT Services)     109,133       266,823  
Novatek PJSC GDR (Oil, Gas & Consumable Fuels)(a)(b)     2,247       —  
NU Holdings Ltd., Class A* (Banks)     28,350       119,354  
Ozon Holdings PLC ADR* (Internet & Direct Marketing Retail)(a)(b)     12,600       —  
Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels)     61,000       403,837  
Phu Nhuan Jewelry JSC (Textiles, Apparel & Luxury Goods)     190,670       934,471  
POSCO Holdings, Inc. (Metals & Mining)     2,458       460,482  
Prestige Estates Projects, Ltd. (Real Estate Management & Development)     91,156       476,481  
Prudential PLC (Insurance)     69,100     833,241  
PT Bank Rakyat Indonesia Persero TBK (Banks)     1,921,300       566,672  
Reliance Industries Ltd.* (Oil, Gas & Consumable Fuels)     32,463       1,031,614  
Riyue Heavy Industry Co., Ltd. (Machinery)     221,594       830,352  
Rosneft Oil Co. PJSC GDR (Oil, Gas & Consumable Fuels)(a)(b)     31,700       1  
Rumo SA (Road & Rail)     136,117       462,800  
Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals)     11,127       527,809  
Samsung Electronics Co. Ltd. Pref. (Technology Hardware, Storage & Peripherals)     11,995       528,726  
Saudi Tadawul Group Holding Co. (Capital Markets)     7,810       461,048  
Sea Ltd. ADR* (Entertainment)     10,767       821,737  
Shinhan Financial Group Co. Ltd. (Banks)     30,606       844,564  
Sibanye Stillwater, Ltd. (Metals & Mining)     60,100       148,024  
Standard Chartered PLC (Banks)     118,600       846,852  
Suzano SA (Paper & Forest Products)     60,100       563,420  
Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment)     105,000       1,798,295  
Techtronic Industries Co. Ltd. (Machinery)     9,500       106,014  
Tencent Holdings Ltd. (Interactive Media & Services)     30,700       1,207,700  
The Saudi National Bank (Banks)     27,300       513,475  
Tongwei Co. Ltd., Class A (Food Products)     146,739       1,175,103  
Trip.com Group Ltd. ADR* (Internet & Direct Marketing Retail)     32,897       848,085  
Vietnam Technological & Commercial Joint Stock Bank* (Banks)     305,180       497,199  
Wal-Mart de Mexico SAB de CV (Food & Staples Retailing)     151,100       549,418  
X5 Retail Group NV GDR (Food & Staples Retailing)(a)(b)     23,720       —  
Yandex NV US, Class A* (Interactive Media & Services)(a)(b)     7,580       —  
Yandex NV Russia, Class A* (Interactive Media & Services)(a)(b)     2,500       —  
Zomato Ltd.* (Internet & Direct Marketing Retail)     561,829       333,100  
TOTAL COMMON STOCKS                
(Cost $47,385,773)             41,664,846  
TOTAL INVESTMENTS                
(Cost $47,385,773) — 97.1%             41,664,846  
Other Net Assets (Liabilities) — 2.9%             1,228,948  
NET ASSETS — 100.0%           $ 42,893,794  

 

* Non-income producing security
(a) Security was valued using unobservable inputs in good faith pursuant to procedures approved by the Board of Trustees as of July 31, 2022. The total of all such securities represent 0.0% of the net assets of the Fund.
(b) The sub-adviser has deemed these securities to be illiquid based on procedures approved by the Board of Trustees. As of July 31, 2022, these securities represent 0.00% of the net assets of the fund.
ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non Voting Depositary Receipt

 

Amounts shown as “—” are either $0 or round to $0.

 

See accompanying notes to schedule of portfolio investments.

 

 1 

 

   

Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Fund  July 31, 2022 (Unaudited)

  

The Emerging Markets Fund invested in the following industries as of July 31, 2022:

 

    Value     % of
Net Assets		  
Auto Components   $ 582,573       1.4 %
Automobiles     2,318,948       5.3 %
Banks     8,146,212       19.1 %
Capital Markets     461,048       1.1 %
Chemicals     860,758       2.0 %
Construction Materials     423,459       1.0 %
Diversified Financial Services     346,604       0.8 %
Electronic Equipment, Instruments & Components     232,972       0.5 %
Entertainment     821,737       1.9 %
Food & Staples Retailing     871,126       2.1 %
Food Products     1,742,400       4.0 %
Gas Utilities     557,207       1.3 %
Health Care Providers & Services     2,053,396       4.7 %
Hotels, Restaurants & Leisure     1,132,131       2.6 %
Insurance     1,341,931       3.1 %
Interactive Media & Services     1,471,014       3.4 %
Internet & Direct Marketing Retail     5,489,975       13.0 %
IT Services     1,008,802       2.3 %
Machinery     936,366       2.1 %
Metals & Mining     1,714,669       4.0 %
Multiline Retail     357,807       0.8 %
Oil, Gas & Consumable Fuels     1,785,370       4.2 %
Paper & Forest Products     563,420       1.4 %
Real Estate Management & Development     476,481       1.1 %
Road & Rail     723,840       1.7 %
Semiconductors & Semiconductor Equipment     2,824,226       6.6 %
Software     89,658       0.2 %
Specialty Retail     339,710       0.8 %
Technology Hardware, Storage & Peripherals     1,056,535       2.5 %
Textiles, Apparel & Luxury Goods     934,471       2.1 %
Other Net Assets     1,228,948       2.9 %
Total   $ 42,893,794       100.0 %

 

The Emerging Markets Fund invested in securities with exposure to the following countries as of July 31, 2022:

 

    Value     % of
Net Assets		  
Argentina   $ 240,858       0.6 %
Brazil     2,427,693       5.7 %
China     10,450,543       24.4 %
Colombia     349,918       0.8 %
Cyprus     0       — %^
Greece     436,436       1.0 %
Hong Kong     1,461,556       3.4 %
India     9,119,850       21.3 %
Indonesia     566,672       1.3 %
Kazakstan     265,439       0.6 %
Luxembourg     89,658       0.2 %
Mexico     911,383       2.1 %
Russia     1       — %^
Saudi Arabia     1,759,897       4.1 %
Singapore     1,082,777       2.5 %
South Africa     1,156,046       2.7 %
South Korea     6,291,675       14.7 %
Taiwan     2,028,263       4.7 %
Thailand     494,447       1.2 %
United Arab Emirates     266,823       0.6 %
United Kingdom     833,241       1.9 %
Vietnam     1,431,670       3.3 %
Other Net Assets     1,228,948       2.9 %
Total   $ 42,893,794       100.0 %

 

^ Represents less than 0.05%.

 

See accompanying notes to schedule of portfolio investments.

 

 2 

 

 

Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Great Consumer Fund  July 31, 2022 (Unaudited)

 

    Shares     Value  
Common Stocks (97.9%)                
Airports of Thailand Public Co. Ltd. NVDR* (Transportation Infrastructure)     7,555,200     $ 14,443,846  
AL Rajhi Bank* (Banks)     393,288       9,443,735  
Alibaba Group Holding Ltd.* (Internet & Direct Marketing Retail)     2,751,200       31,084,179  
Alpha Services and Holdings SA* (Banks)     7,923,232       7,034,277  
Apollo Hospitals Enterprise Ltd. (Health Care Providers & Services)     403,501       21,445,229  
Asian Paints Ltd. (Chemicals)     458,991       19,338,161  
Ayala Land, Inc. (Real Estate Management & Development)     16,556,305       7,606,333  
Banco Bradesco SA, Preference Shares (Banks)     1,703,230       5,741,632  
Bangkok Dusit Medical Services Public Co. Ltd. NVDR (Health Care Providers & Services)     12,238,500       8,908,620  
Britannia Industries Ltd. (Food Products)     106,050       5,227,717  
BYD Co. Ltd., Class H (Automobiles)     992,500       36,375,622  
China International Travel Service Corp. Ltd., Class A (Hotels, Restaurants & Leisure)     684,254       21,319,457  
Clicks Group Ltd. (Food & Staples Retailing)     332,000       5,591,990  
CP All Public Co. Ltd. (Food & Staples Retailing)     10,182,700       17,095,209  
FirstRand Ltd. (Diversified Financial Services)     1,381,509       5,460,246  
Foshan Haitian Flavouring & Food Co. Ltd., A Shares (Food Products)     671,503       8,253,437  
Frontera Energy Corp.* (Oil, Gas & Consumable Fuels)     598,752       5,868,742  
Globant SA* (Software)     7,800       1,554,072  
Grab Holdings Ltd.* (Road & Rail)     1,038,093       3,062,374  
Grupo Financiero Banorte Sab de CV (Banks)     1,085,443       6,187,285  
Halyk Savings Bank of Kazakhstan JSC GDR (Banks)     484,762       4,522,829  
HDFC Bank Ltd. (Banks)     935,691       17,090,171  
Hindustan Unilever Ltd. (Household Products)     279,080       9,311,590  
IHH Healthcare Berhad (Health Care Providers & Services)     7,747,800       11,130,495  
Jahez International Co.* (Internet & Direct Marketing Retail)     14,198       3,555,687  
JD.com, Inc., Class A (Internet & Direct Marketing Retail)     34,257       1,020,330  
Kakao Corp. (Interactive Media & Services)     153,471       8,884,410  
Kasikornbank Public Co. Ltd. NVDR (Banks)     2,289,500       9,218,539  
LG Household & Health Care Ltd. (Personal Products)     16,187       9,740,079  
Li-Ning Co. Ltd. (Textiles, Apparel & Luxury Goods)     5,137,500       41,950,999  
Locaweb Servicos de Internet SA (IT Services)     2,300,900       2,993,149  
Lojas Renner SA (Multiline Retail)     1,179,448       5,799,779  
Meituan, Class B* (Internet & Direct Marketing Retail)     806,900       18,276,722  
MercadoLibre, Inc.* (Internet & Direct Marketing Retail)     4,881       3,971,719  
Midea Group Co. Ltd., Class A (Household Durables)     1,317,714       10,786,285  
Mr. Price Group Ltd. (Specialty Retail)     501,880       5,487,230  
NAVER Corp. (Interactive Media & Services)     58,944       11,820,839  
Nestle India Ltd. (Food Products)     48,130       11,774,644  
Network International Holdings PLC* (IT Services)     2,060,637       5,038,122  
NIO, Inc., Class A* (Automobiles)     292,970       5,744,393  
NU Holdings Ltd., Class A* (Banks)     321,600       1,353,936  
Ozon Holdings PLC ADR* (Internet & Direct Marketing Retail)(a)(b)     221,400       3  
PT Bank Central Asia TBK (Banks)     32,224,800       16,052,260  
PT Bank Rakyat Indonesia Persero TBK (Banks)     32,904,900       9,705,030  
PT Telekomunikasi Indonesia Persero TBK (Diversified Telecommunication Services)     24,027,200       6,866,329  
Raia Drogasil SA (Food & Staples Retailing)     1,568,900       6,362,332  
Reliance Industries Ltd.* (Oil, Gas & Consumable Fuels)     598,811       19,029,099  
Rosneft Oil Co. PJSC GDR (Oil, Gas & Consumable Fuels)(a)(b)     764,700       8  
Rumo SA (Road & Rail)     2,157,191     7,334,491  
Saudi Tadawul Group Holding Co. (Capital Markets)     141,245       8,338,121  
Sea Ltd. ADR* (Entertainment)     61,831       4,718,942  
Shanghai International Airport Co. Ltd., Class A* (Transportation Infrastructure)     2,192,079       16,823,967  
Sibanye Stillwater, Ltd. (Metals & Mining)     1,028,200       2,532,420  
SM Prime Holdings, Inc. (Real Estate Management & Development)     12,891,600       8,588,997  
Suzano SA (Paper & Forest Products)     942,600       8,836,590  
TCS Group Holdings PLC GDR (Banks)(a)(b)     144,770       1  
Tencent Holdings Ltd. (Interactive Media & Services)     295,100       11,608,872  
The Saudi National Bank (Banks)     459,100       8,635,025  
Wal-Mart de Mexico SAB de CV (Food & Staples Retailing)     2,537,000       9,224,843  
X5 Retail Group NV GDR (Food & Staples Retailing)(a)(b)     573,800       6  
Xpeng, Inc., A Shares* (Automobiles)     1,408,300       17,138,503  
Yandex NV US, Class A* (Interactive Media & Services)(a)(b)     176,301       1  
Yandex NV Russia, Class A* (Interactive Media & Services)(a)(b)     53,100       1  
TOTAL COMMON STOCKS                
(Cost $702,325,704)             602,309,951  
Foreign Bond (0.0%)NM                
India (0.0%)NM                
Britannia Industries Ltd., 5.50%, 6/3/24+     9,985,483       122,583  
TOTAL FOREIGN BOND                
(Cost $136,982)             122,583  
TOTAL INVESTMENTS                
(Cost $702,462,686) — 97.9%             602,432,534  
Other Net Assets (Liabilities) — 2.1%             13,169,584  
NET ASSETS — 100.0%           $ 615,602,118  

 

* Non-income producing security
+ The principal amount is disclosed in local currency and the fair value is disclosed in U.S. Dollars.
NM Not meaningful, amount less than 0.05%
(a) Security was valued using unobservable inputs in good faith pursuant to procedures approved by the Board of Trustees as of July 31, 2022. The total of all such securities represent 0.0% of the net assets of the Fund.
(b) The sub-adviser has deemed these securities to be illiquid based on procedures approved by the Board of Trustees. As of July 31, 2022, these securities represent 0.00% of the net assets of the fund.
ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non Voting Depositary Receipt

 

See accompanying notes to schedule of portfolio investments.

 

 3 

 

 

Mirae Asset Discovery Funds  Schedule of Portfolio Investments
Emerging Markets Great Consumer Fund  July 31, 2022 (Unaudited)

  

The Emerging Markets Great Consumer Fund invested in the following industries as of July 31, 2022:

 

    Value     % of
Net Assets		  
Automobiles   $ 59,258,518       9.6 %
Banks     94,984,720       15.4 %
Capital Markets     8,338,121       1.4 %
Chemicals     19,338,161       3.1 %
Diversified Financial Services     5,460,246       0.9 %
Diversified Telecommunication Services     6,866,329       1.1 %
Entertainment     4,718,942       0.8 %
Food & Staples Retailing     38,274,380       6.3 %
Food Products     25,378,381       4.1 %
Health Care Providers & Services     41,484,344       6.7 %
Hotels, Restaurants & Leisure     21,319,457       3.5 %
Household Durables     10,786,285       1.8 %
Household Products     9,311,590       1.5 %
Interactive Media & Services     32,314,123       5.3 %
Internet & Direct Marketing Retail     57,908,640       9.4 %
IT Services     8,031,271       1.3 %
Metals & Mining     2,532,420       0.4 %
Multiline Retail     5,799,779       0.9 %
Oil, Gas & Consumable Fuels     24,897,849       4.1 %
Paper & Forest Products     8,836,590       1.4 %
Personal Products     9,740,079       1.6 %
Real Estate Management & Development     16,195,330       2.6 %
Road & Rail     10,396,865       1.7 %
Software     1,554,072       0.3 %
Specialty Retail     5,487,230       0.9 %
Textiles, Apparel & Luxury Goods     41,950,999       6.8 %
Transportation Infrastructure     31,267,813       5.0 %
Other Net Assets     13,169,584       2.1 %
Total   $ 615,602,118       100.0 %

 

The Emerging Markets Great Consumer Fund invested in securities with exposure to the following countries as of July 31, 2022:

 

    Value     % of
Net Assets		  
Argentina   $ 3,971,719       0.6 %
Brazil     38,421,909       6.2 %
China     220,382,766       35.8 %
Colombia     5,868,742       1.0 %
Cyprus     4       — %^
Greece     7,034,277       1.1 %
India     103,339,194       16.8 %
Indonesia     32,623,619       5.3 %
Kazakstan     4,522,829       0.7 %
Luxembourg     1,554,072       0.3 %
Mexico     15,412,128       2.5 %
Philippines     16,195,330       2.6 %
Russia     16       — %^
Saudi Arabia     29,972,568       4.9 %
Singapore     7,781,316       1.3 %
South Africa     19,071,886       3.1 %
South Korea     41,575,823       6.8 %
Thailand     49,666,214       8.1 %
United Arab Emirates     5,038,122       0.8 %
Other Net Assets     13,169,584       2.1 %
Total   $ 615,602,118       100.0 %

 

^ Represents less than 0.05%.

 

See accompanying notes to schedule of portfolio investments.

  

 4