BetaShares launches robotics and AI ETF
BetaShares has launched its new Global Robotics and Artificial Intelligence (RBTZ) exchange-traded fund (ETF) on the Australian Securities Exchange (ASX), which will offer exposure to a portfolio of global companies that use robotics and AI products and services.
This would include companies that are involved in production or use of industrial robots, autonomous vehicles and applications of large-scale machine learning.
According to Betashares, this trend is predicted to last, with revenue from sales of industrial and non-industrial robots forecast to grow over 30 per cent per annum to reach US$500 billion, while revenue from AI software is expected to grow around 55 per cent per annum to reach US$37 billion by 2025.
“Ageing populations, rising labour costs, and an opportunity for performance improvements are all significant economic incentives promoting further development of the area, explaining significant growth in the adoption of robotics and artificial intelligence solutions across a number of industries,” Alex Vynokur, BetaShares’ chief executive, said.
RBTZ would track the Indexx Global Robotics and Artificial Intelligence Thematic Index, which in the three years to August 2018 generated annual returns of 35 per cent.
According to Vynokur, Australian investors were more often looking outside their home market for growth opportunities, with technology an area of focus as investors position their portfolios for a different future.
AUTHOR
Oksana Patron
Recommended for you
Franklin Templeton has announced it will close its Australian Core Plus Bond Fund, having changed two fixed income funds in its Brandywine range last week.
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
