ETF Securities FANG+ ETF exceeds $100m in FUM
ETF Securities has announced that its FANG+ exchange traded fund has surpassed $100 million in funds under management (FUM) and, as of 19 September, the fund had $128 million in FUM.
The firm said that investors were showing increased interest to gain more exposure to the FAANG (Facebook, Amazon, Apple, Netflix, Google) stocks through the NYSE FANG+ index, which had a proven track record of delivering above-average returns and enabled investors to take positions and manage risk in the most actively traded technology stocks.
The index was equally weighted and included the five core FAANG stocks and another five actively-traded technology growth stocks – Alibaba, Baidu, NVIDIA, Tesla and Twitter.
According to Kanish Chugh, head of distribution at ETF Securities, this year was challenging for most sectors in terms of performance and the diminishing prospects of a quick recovery and increasing length of the current COVID-19 malaise globally pushed investors to look for ‘safe haven’ options.
“The FANG+ ETF continues to deliver outstanding returns. Since inception in March this year, the fund has returned 57.94% total return (as of 15 October),” he said.
“The recent pull back in US technology stocks over September was not unexpected, with the NYSE FANG+ Index plunging 6%, and the share price of Apple and Tesla diving 8% and 6.5%, respectively. Prices have since recovered, with many investors viewing the falls as a buying opportunity.
“This ETF continues to be ideally suited to investors seeking to build wealth over the medium to long term,” Chugh said.
ETF Securities FANG+ Top 10 holdings
AUTHOR
Oksana Patron
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