BetaShares launches Cybersecurity ETF
A new exchange traded fund (ETF) will provide investors with diversification into the rapidly growing cybersecurity sector, providing an opportunity to gain insight into the growing issues around cybercrime.
Global spending in the cybersecurity sector has increased at annual rate of around eight per cent, and reached close to $110 billion in 2016. The growth rate was set to increase, which BetaShares managing director, Alex Vynokur, said would be helped along by technology innovation.
"Cybersecurity is front of mind for governments, businesses and individuals across the world, with events like the recent census disruption," he said.
"The growth of this sector seems assured for the foreseeable future."
The BetaShares Global Cybersecurity ETF would aim to track the performance of leading players in global cybersecurity including Symanted, Cisco and VC-backed FireEye.
Vynokur said that the increased rate of cybercrime called for a transparent way for getting exposure to leading organisations working against it.
"The rapid growth in online activity and the rising number of internet-connected devices across the globe has had an unfortunate consequence in the equally strong growth of cybercrime," he said.
"HACK provides investors with an easy, cost-effective... way to gain diversified exposure to some of the world's leading companies."
To date, five ETFs from the series have been launched.
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