Mirae Asset Adjusts TIGER Semiconductor ETF Portfolio 3 Months Early, Violating Index Rules on July 2

According to Chosun Biz, South Korea's Mirae Asset adjusted its TIGER Semiconductor TOP10 ETF portfolio on July 2 by adding SK Square, Juseung Engineering, and ISU Petasys while removing HPSP, ISC, and Solbrain—three months ahead of the scheduled October rebalancing date and in violation of index methodology.

The index rules for the FnGuide Semiconductor TOP10 Index stipulate that component changes occur only in April and October. While ad-hoc weight adjustments exist when a single holding exceeds 30%, these exclude component substitutions. Mirae Asset justified the move by citing a sector classification change from index provider FnGuide, but industry observers argue the firm exploited a regulatory gap by accelerating the rebalance to compete with rivals. The ETF also reflected changes one day earlier than required (T+2 versus T+3 protocol). TIGER Semiconductor TOP10 posted a one-month loss of 16.51%, significantly underperforming competitors.