미래에셋운용, 금리 인상 앞 '운용보수 체력' 주목

As potential Bank of Korea interest rate hikes loom, Mirae Asset's profitability faces structural pressure—not from rising borrowing costs, but from customer fund migration from high-fee equities and ETFs to lower-fee bonds and money market products. This shift could compress management fee income even as total assets grow. The challenge highlights a critical vulnerability for Korean asset managers: revenue depends less on AUM size and more on maintaining favorable product allocation through rate cycles.