Mirae Asset Discovery Funds NPORT-P Emerging Markets Fund (Jan 2022 report)

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

	Shares		Value
Common Stocks (95.7%)
AIA Group Ltd. (Insurance)		95,400	$	990,977
AL Rajhi Bank (Banks)		20,569		814,596
Alibaba Group Holding Ltd.* (Internet & Direct Marketing Retail)		69,080		1,084,476
Alpha Services and Holdings SA* (Banks)		363,188		547,228
Banco Bradesco SA, Preference Shares (Banks)		62,500		269,927
BYD Co. Ltd., Class H (Automobiles)		24,000		690,850
China International Travel Service Corp. Ltd., Class A (Hotels, Restaurants & Leisure)		35,700		1,169,245
Clicks Group Ltd. (Food & Staples Retailing)		19,400		372,697
Dalmia Bharat Ltd. (Construction Materials)		26,020		622,673
FirstRand Ltd. (Diversified Financial Services)		94,595		381,721
Frontera Energy Corp.* (Oil, Gas & Consumable Fuels)		36,300		302,452
GAIL India Ltd. (Gas Utilities)		527,269		1,023,713
Ganfeng Lithium Co. Ltd., Class H (Metals & Mining)		50,000		791,942
Grab Holdings Ltd.* (Internet & Direct Marketing Retail)		106,363		602,015
Grupo Financiero Banorte Sab de CV (Banks)		99,200		627,633
Halyk Savings Bank of Kazakhstan JSC GDR (Banks)		29,800		387,987
HDFC Bank Ltd. (Banks)		44,270		887,691
Hindalco Industries Ltd. (Metals & Mining)		106,148		697,795
Hyundai Motor Co. (Automobiles)		4,463		716,329
ICICI Bank Ltd. (Banks)		264,211		2,799,095
IHH Healthcare Berhad (Health Care Providers & Services)		866,000		1,335,014
Infosys Ltd. (IT Services)		28,128		657,864
JD.com, Inc., Class A* (Internet & Direct Marketing Retail)		1,143		42,619
Kingdee International Software Group Co., Ltd.* (Software)		39,000		89,547
Lemon Tree Hotels Ltd.* (Hotels, Restaurants & Leisure)		1,148,033		808,560
LG Chem Ltd. (Chemicals)		2,166		1,162,982
Li-Ning Co. Ltd. (Textiles, Apparel & Luxury Goods)		14,500		140,785
Locaweb Servicos de Internet SA (IT Services)		89,300		164,159
Lojas Renner SA (Multiline Retail)		76,115		405,426
LONGi Green Energy Technology Co. Ltd. (Semiconductors & Semiconductor Equipment)		60,297		678,467
Mahindra & Mahindra Ltd. (Automobiles)		68,438		814,012
Mando Corp.* (Auto Components)		11,386		497,592
MediaTek, Inc. (Semiconductors & Semiconductor Equipment)		31,000		1,208,797
Meituan, Class B* (Internet & Direct Marketing Retail)		76,300		2,170,938
MercadoLibre, Inc.* (Internet & Direct Marketing Retail)		471		533,200
Mr. Price Group Ltd. (Specialty Retail)		33,931		451,519
Narayana Hrudayalaya Ltd.* (Health Care Providers & Services)		132,359		1,150,050
NAVER Corp. (Interactive Media & Services)		2,143		567,847
Network International Holdings PLC* (IT Services)		100,833		360,835
Novatek PJSC GDR (Oil, Gas & Consumable Fuels)		1,850		392,787
NU Holdings Ltd., Class A* (Banks)		23,700		175,854
Ozon Holdings PLC ADR* (Internet & Direct Marketing Retail)		12,600		260,442
Phu Nhuan Jewelry JSC (Textiles, Apparel & Luxury Goods)		225,970		1,045,588
POSCO (Metals & Mining)		3,893		880,214
Prestige Estates Projects, Ltd. (Real Estate Management & Development)		108,921		724,534
Prudential PLC (Insurance)		53,300		892,065
PT Bank Rakyat Indonesia Persero TBK (Banks)		4,192,000		1,190,473
Raia Drogasil SA (Food & Staples Retailing)		91,800		402,175
Reliance Industries Ltd. (Oil, Gas & Consumable Fuels)		35,499		1,135,416
Riyue Heavy Industry Co., Ltd. (Machinery)		223,294		982,791
Rosneft Oil Co. PJSC GDR (Oil, Gas & Consumable Fuels)		28,500		213,794
Rumo SA* (Road & Rail)		155,217		460,158
Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals)		25,025		1,550,318
Samsung Electronics Co. Ltd. Pref. (Technology Hardware, Storage & Peripherals)		19,719		1,105,446
Sberbank of Russia PJSC ADR (Banks)		47,480		667,306
Sea Ltd. ADR* (Entertainment)		6,005		902,611
Shinhan Financial Group Co. Ltd. (Banks)		35,748		1,143,882
Sino Biopharmaceutiical, Ltd. (Pharmaceuticals)		887,000		611,175
Sona Blw Precision Forgings Ltd.* (Auto Components)		18,540		160,354
Standard Chartered PLC (Banks)		191,400		1,372,263
Suzano SA (Paper & Forest Products)		53,500		597,848
Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment)		145,000		3,302,319
Techtronic Industries Co. Ltd. (Machinery)		47,500		779,807
Tencent Holdings Ltd. (Interactive Media & Services)		30,100		1,837,282
Tongwei Co. Ltd., Class A (Food Products)		107,939		647,888
Trip.com Group Ltd. ADR* (Internet & Direct Marketing Retail)		26,059		693,430
Vietnam Technological & Commercial Joint Stock Bank* (Banks)		596,880		1,397,932
Wal-Mart de Mexico Sab de CV (Food & Staples Retailing)		206,400		700,280
X5 Retail Group NV GDR (Food & Staples Retailing)		21,820		495,202
Yandex NV US, Class A* (Interactive Media & Services)		7,580		364,295
Yandex NV Russia, Class A* (Interactive Media & Services)		2,500		120,150
Zomato Ltd.* (Internet & Direct Marketing Retail)		255,442		311,124
TOTAL COMMON STOCKS
(Cost $54,288,173)				56,538,458
TOTAL INVESTMENTS
(Cost $54,288,173) — 95.7%				56,538,458
Other Net Assets (Liabilities) — 4.3%				2,532,280
NET ASSETS — 100.0%			$	59,070,738

* 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	January 31, 2022 (Unaudited)

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

	Value		% of Net Assets
Auto Components	$	657,946		1.1	%
Automobiles		2,221,191		3.8	%
Banks		12,281,867		21.0	%
Chemicals		1,162,982		2.0	%
Construction Materials		622,673		1.1	%
Diversified Financial Services		381,721		0.6	%
Entertainment		902,611		1.5	%
Food & Staples Retailing		1,970,354		3.2	%
Food Products		647,888		1.1	%
Gas Utilities		1,023,713		1.7	%
Health Care Providers & Services		2,485,064		4.3	%
Hotels, Restaurants & Leisure		1,977,805		3.4	%
Insurance		1,883,042		3.2	%
Interactive Media & Services		2,889,574		4.9	%
Internet & Direct Marketing Retail		5,698,244		9.6	%
IT Services		1,182,858		2.0	%
Machinery		1,762,598		3.0	%
Metals & Mining		2,369,951		4.0	%
Multiline Retail		405,426		0.7	%
Oil, Gas & Consumable Fuels		2,044,449		3.4	%
Paper & Forest Products		597,848		0.9	%
Pharmaceuticals		611,175		1.0	%
Real Estate Management & Development		724,534		1.2	%
Road & Rail		460,158		0.8	%
Semiconductors & Semiconductor Equipment		5,189,583		8.7	%
Software		89,547		0.2	%
Specialty Retail		451,519		0.8	%
Technology Hardware, Storage & Peripherals		2,655,764		4.5	%
Textiles, Apparel & Luxury Goods		1,186,373		2.0	%
Other Net Assets		2,532,280		4.3	%
Total	$	59,070,738		100.0	%

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

	Value		% of Net Assets
Argentina	$	533,200		0.9	%
Brazil		2,475,547		4.2	%
China		11,020,260		18.7	%
Colombia		302,452		0.5	%
Cyprus		260,442		0.4	%
Greece		547,228		0.9	%
Hong Kong		3,754,222		6.4	%
India		11,792,881		20.1	%
Indonesia		1,190,473		2.0	%
Kazakstan		387,987		0.7	%
Mexico		1,327,913		2.2	%
Russia		2,253,534		3.8	%
Saudi Arabia		814,596		1.4	%
Singapore		1,504,626		2.5	%
South Africa		1,205,937		2.0	%
South Korea		8,959,624		15.2	%
Taiwan		4,511,116		7.6	%
United Arab Emirates		360,835		0.6	%
United Kingdom		892,065		1.5	%
Vietnam		2,443,520		4.1	%
Other Net Assets		2,532,280		4.3	%
Total	$	59,070,738		100.0	%

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

	Shares		Value
Common Stocks (97.9%)
AL Rajhi Bank (Banks)		516,061	$	20,437,600
Alibaba Group Holding Ltd.* (Internet & Direct Marketing Retail)		3,557,600		55,850,220
Alpha Services and Holdings SA* (Banks)		9,787,087		14,746,534
ANTA Sports Products Ltd. (Textiles, Apparel & Luxury Goods)		669,400		10,043,132
Apollo Hospitals Enterprise Ltd. (Health Care Providers & Services)		460,068		27,554,758
Asian Paints Ltd. (Chemicals)		511,701		21,573,914
Ayala Land, Inc. (Real Estate Management & Development)		17,353,405		12,246,479
Banco Bradesco SA, Preference Shares (Banks)		1,731,900		7,479,793
Britannia Industries Ltd. (Food Products)		314,327		14,914,023
BYD Co. Ltd., Class H (Automobiles)		2,744,000		78,987,159
China International Travel Service Corp. Ltd., Class A (Hotels, Restaurants & Leisure)		1,151,454		37,712,386
China Merchants Bank Co. Ltd. (Banks)		3,239,000		27,063,655
Clicks Group Ltd. (Food & Staples Retailing)		481,000		9,240,571
CP All Public Co. Ltd. (Food & Staples Retailing)		7,394,400		14,010,655
FirstRand Ltd. (Diversified Financial Services)		2,567,909		10,362,342
Foshan Haitian Flavouring & Food Co. Ltd., A Shares (Food Products)		594,595		9,031,417
Frontera Energy Corp.* (Oil, Gas & Consumable Fuels)		786,000		6,548,969
Grab Holdings Ltd.* (Internet & Direct Marketing Retail)		333,112		1,885,414
Grupo Financiero Banorte Sab de CV (Banks)		2,436,143		15,413,348
Haier Smart Home Co. Ltd., Class A (Household Durables)		970,580		4,250,598
Halyk Savings Bank of Kazakhstan JSC GDR (Banks)		927,724		12,078,674
HDFC Bank Ltd. (Banks)		2,207,006		44,254,329
Hindustan Unilever Ltd. (Household Products)		1,002,973		30,615,358
IHH Healthcare Berhad (Health Care Providers & Services)		7,747,800		11,943,908
JD.com, Inc., Class A* (Internet & Direct Marketing Retail)		246,707		9,200,026
Kakao Corp. (Interactive Media & Services)		524,107		38,037,823
LG Household & Health Care Ltd. (Personal Products)		43,177		35,126,170
Li-Ning Co. Ltd. (Textiles, Apparel & Luxury Goods)		8,890,500		86,320,918
Locaweb Servicos de Internet SA (IT Services)		2,464,700		4,530,818
Lojas Renner SA (Multiline Retail)		2,163,549		11,524,147
MercadoLibre, Inc.* (Internet & Direct Marketing Retail)		13,406		15,176,396
Midea Group Co. Ltd., Class A (Household Durables)		3,218,414		37,427,193
Mr. Price Group Ltd. (Specialty Retail)		922,880		12,280,737
NAVER Corp. (Interactive Media & Services)		163,215		43,248,319
Nestle India Ltd. (Food Products)		104,294		25,920,182
Network International Holdings PLC* (IT Services)		2,651,761		9,489,441
NU Holdings Ltd., Class A* (Banks)		682,900		5,067,118
Ozon Holdings PLC ADR* (Internet & Direct Marketing Retail)		221,400		4,576,338
PT Bank Central Asia TBK (Banks)		89,175,000		47,553,890
PT Bank Rakyat Indonesia Persero TBK (Banks)		56,852,400		16,145,339
Raia Drogasil SA (Food & Staples Retailing)		2,228,500		9,763,040
Rosneft Oil Co. PJSC GDR (Oil, Gas & Consumable Fuels)		764,700		5,736,436
Rumo SA* (Road & Rail)		4,129,491		12,242,327
Sberbank of Russia PJSC ADR (Banks)		1,262,898		17,749,350
Sea Ltd. ADR* (Entertainment)		98,681		14,832,741
Shanghai International Airport Co. Ltd., Class A* (Transportation Infrastructure)		1,742,757		13,854,133
Suzano SA (Paper & Forest Products)		1,436,900		16,056,972
Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment)		1,187,000		27,033,471
TCS Group Holdings PLC GDR (Banks)		128,610		9,268,519
Tencent Holdings Ltd. (Interactive Media & Services)		719,400		43,911,652
Wal-Mart de Mexico Sab de CV (Food & Staples Retailing)		5,507,800		18,687,031
X5 Retail Group NV GDR (Food & Staples Retailing)		573,800		13,022,306
Xpeng, Inc., A Shares* (Automobiles)		1,698,800		29,374,624
Yandex NV Russia, Class A* (Interactive Media & Services)		53,100		2,551,986
Yandex NV US, Class A* (Interactive Media & Services)		176,301		8,473,026
Zomato Ltd.* (Internet & Direct Marketing Retail)		1,536,298		1,871,184
TOTAL COMMON STOCKS
(Cost $1,142,000,500)				1,144,298,889
Foreign Bond (0.0%)NM
India (0.0%)NM
Britannia Industries Ltd., 5.50%, 6/3/24+		9,985,483		133,035
TOTAL FOREIGN BOND
(Cost $136,982)				133,035
TOTAL INVESTMENTS
(Cost $1,142,137,482) — 97.9%				1,144,431,924
Other Net Assets (Liabilities) — 2.1%				24,691,694
NET ASSETS — 100.0%			$	1,169,123,618

*	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%
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	January 31, 2022 (Unaudited)

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

	Value		% of Net Assets
Automobiles	$	108,361,783		9.3	%
Banks		237,258,149		20.3	%
Chemicals		21,573,914		1.8	%
Diversified Financial Services		10,362,342		0.9	%
Entertainment		14,832,741		1.2	%
Food & Staples Retailing		64,723,603		5.5	%
Food Products		49,998,657		4.3	%
Health Care Providers & Services		39,498,666		3.4	%
Hotels, Restaurants & Leisure		37,712,386		3.2	%
Household Durables		41,677,791		3.6	%
Household Products		30,615,358		2.6	%
Interactive Media & Services		136,222,806		11.7	%
Internet & Direct Marketing Retail		88,559,578		7.7	%
IT Services		14,020,259		1.2	%
Multiline Retail		11,524,147		1.0	%
Oil, Gas & Consumable Fuels		12,285,405		1.1	%
Paper & Forest Products		16,056,972		1.4	%
Personal Products		35,126,170		3.0	%
Real Estate Management & Development		12,246,479		1.0	%
Road & Rail		12,242,327		1.0	%
Semiconductors & Semiconductor Equipment		27,033,471		2.3	%
Specialty Retail		12,280,737		1.0	%
Textiles, Apparel & Luxury Goods		96,364,050		8.2	%
Transportation Infrastructure		13,854,133		1.2	%
Other Net Assets		24,691,694		2.1	%
Total	$	1,169,123,618		100.0	%

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

	Value		% of Net Assets
Argentina	$	15,176,396		1.3	%
Brazil		66,664,215		5.7	%
China		443,027,113		38.0	%
Colombia		6,548,969		0.6	%
Cyprus		13,844,857		1.2	%
Greece		14,746,534		1.3	%
India		166,836,783		14.3	%
Indonesia		63,699,229		5.4	%
Kazakstan		12,078,674		1.0	%
Mexico		34,100,379		2.9	%
Philippines		12,246,479		1.0	%
Russia		47,533,104		4.1	%
Saudi Arabia		20,437,600		1.7	%
Singapore		16,718,155		1.4	%
South Africa		31,883,650		2.7	%
South Korea		128,356,220		11.0	%
Taiwan		27,033,471		2.3	%
Thailand		14,010,655		1.2	%
United Arab Emirates		9,489,441		0.8	%
Other Net Assets		24,691,694		2.1	%
Total	$	1,169,123,618		100.0	%

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