ETF aims to identify emerging leaders in technology who have the potential to become big players over time
Goldman Sachs Asset Management on Thursday announced a new equity exchange-traded fund (ETF) called the Goldman Sachs Future Tech Leaders Equity ETF (GTEK).
An actively managed equity ETF that will invest in tech companies worth less than $100 billion comes in the form of Goldman and other large asset management firms targeting the next generation of tech-savvy investors.
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“With nearly a quarter of S&P 500 market capitalization in the top 1% of stocks, many investors are susceptible to mature U.S. mega-cap technology companies,” said Katie Koch, co-head of fundamental equities business at Goldman Sachs Asset Management. Thursday’s statement.
He added that Goldman believes that “in 10 years the major tech franchises will be very different from the platforms we know them today,” and that the company will “recognize and recognize future tech leaders with strong growth rates and potential.” working diligently for Big return.”
The purpose of the ETF is to identify emerging leaders in technology who have the potential to become big players over time.
“GTEK aims to provide exposure to our high conviction technology investment ideas on a global scale, which can complement investors’ existing portfolios,” Brooke Dane, the fund’s portfolio manager, said in a statement. “We see many exciting opportunities in areas including smart components, digital transformation, fintech and cyber security.”
The COVID-19 pandemic has “further accelerated the digitization trend, creating additional secular growth tailwinds that we want to help investors position their portfolio for the future,” Dane said.
Fund NYSE Arca, Inc. But the ticker symbol will trade under GTEK.