Mirae Asset Global X Cloud Computing ETF Crosses 1 Tril. Won in Net Assets
NASDAQ MarketSite in Times Square, New York announces the launch of Global X Cloud Computing ETF.

Mirae Asset Management announced on Aug. 13 that net assets of Cloud Computing ETF, which was listed on the NASDAQ market by U.S. ETF operator Global X, have surpassed US$1 billion. Since listing in April 2019, the ETF’s net assets have steadily increased based on its excellent performances, including a return of nearly 50 percent.

The rise of telecommuting amid the spread of the new coronavirus is fueling investors’ interest in cloud computing, Mirae Asset said.

Global X Cloud Computing ETF (ticker: CLOU) follows the Global Cloud Computing Index. It invests in companies with more than half of their total sales coming from cloud computing-related businesses such as cloud servers, storages, databases, networking and software.

As of the end of June, it invested in 36 stocks — 88.09 percent in U.S. companies, 4.80 percent in Canadian companies, 3.82 percent in New Zealand companies and 3.29 percent in Chinese companies.

According to the SEIBro of the Korea Securities Depository, Korean investors bought US$313.86 million worth of the Global X CLOU ETF in 2019. The net purchase amount is close to US$200 million, making it the number one overseas stock purchased by Korean investors in 2019. In terms of total purchase amounts, it ranked sixth after Amazon and Microsoft among others.

Meanwhile, CLOU ETF was selected as the best new listed ETF (The Newcomer ETF of the Year) in 2019 at the Mutual Fund Industry & ETF Awards 2020, which was organized by U.S. fund consulting firm Fund Intelligence Group in July.

As of the end of June, Mirae Asset was managing 370 ETFs worth about 47 trillion won in eight countries including Korea, the United States, Canada, Australia and Hong Kong. According to global ETF research firm ETFGI, Mirae Asset Global ETF ranks 17th in net assets among global fund management companies.

Global X is supplying differentiated products such as various theme-type and income-type products in the U.S. ETF market, and its total amount under management reached US$13.5 billion.

“CLOU ETF receives steady attention from global investors because it is an easy and fast way to invest in the cloud computing sector, which is expected to grow fast,” said Luis Berruga, CEO of Global X. “We will continue to provide investment opportunities to investors around the world including Korea, through innovative products such as new growth theme stocks.”

(Excerpt) Read more Here | 2020-08-14 02:42:01
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.