New tech-focused ETF from Horizons

Toronto-based Horizons ETFs Management (Canada) Inc. has added a tech-focused ETF to its product lineup.

The Horizons Global BBIG Technology ETF follows the Solactive Global BBIG Index, which provides exposure to the performance of publicly listed large- and mid-cap global equities in the secondary battery, biotechnology, internet and gaming (BBIG) industries.

“Over the last year, we have seen the pace of global technological disruption and proliferation accelerate, particularly in several key industries, including those that BBIG offers exposure to,” Steve Hawkins, president and CEO of Horizons ETFs, said in a release. “While these investment themes are in focus now, the continued growth of the BBIG industries will be catalysts for the advancement of other technology-reliant industries, such as the electric vehicle industry, underscoring their future growth potential.”

Biotechnology companies in the BBIG index are engaged in various innovative health care sectors, including gene editing, genomics, bioinformatics and biopharmaceuticals. Internet companies include internet technology developers and software and service developers involved in sectors such as cybersecurity and e-commerce. Gaming companies include video game publishers, producers of gaming console hardware, e-sports league operators and developers of augmented and virtual reality technologies.

Developed and emerging market companies included in the index must meet minimum size and liquidity requirements and have a primary listing in a developed market country, including South Korea and Taiwan. Any stock listed on a local exchange in China is excluded. However, the index can include dually listed Chinese stocks that trade on Hong Kong Exchanges or have an American Depository Receipt in the United States.

The ETF has a management fee of 0.45% and trades on the Toronto Stock Exchange.

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