Invesco, a large asset management firm, has announced the launch of 2 ETFs, one focussed on the semiconductor industry and another on the biotechnology industry, in partnership with NASDAQ which has indexed for companies working in these fields.
The company believes that these 2 fields have a lot of bandwidth to grow. Biotechnology has become a big focus over the last couple of years ever since the pandemic began. The research and the constant innovation that is needed in the medical field has helped us to fight the pandemic and hence the companies that focus on this sector are expected to do well in the coming years. Likewise, the semiconductor industry has always been in demand over the years. Though it has been in existence for a long time, it continues to see demand outstripping supply, and hence the company believes that this industry would also do well.
“We are excited to expand our relationship with Nasdaq to offer investors another way to access innovative companies currently shaping the way we live and work,” said Anna Paglia, Global Head of ETFs & Indexed Strategies at Invesco. “There has never been a more relevant moment for these two themes, and we are happy that we could ensure investors now have the most cost-effective way to invest in Nasdaq-listed companies through indexes that have been live for almost three decades.”
The new ETFs are set to track the Nasdaq Biotechnology Index and the PHLX Semiconductor Index and these indexes are two of the oldest indexes in Nasdaq. The addition of these new ETFs is expected to promote these companies as well as attract investors who would want to invest in some reliable ETFs that are poised to grow in the future. The company has a presence in over 20 countries and over $1.4 trillion under management.
“Nasdaq is proud to be the exchange partner to a global community of healthcare and semiconductor leaders,” said Lauren Dillard, Executive Vice President and Head of Investment Intelligence for Nasdaq. “Leveraging our rules-based and transparent indexes, we are pleased to build on our partnership with Invesco, bringing investment products that enable investors to gain meaningful exposure to the pioneering companies who are transforming tomorrow.”
Invesco has also been recently in the news for planning to launch a couple of ETFs based on cryptocurrency though it would not directly invest into tokens. It plans to invest in companies that are linked to the crypto domain and also into trust and funds that hold cryptocurrencies but the SEC is yet to make up its mind on these filings.