The BlackRock Future Financial and Technology ETF has been released, expanding BlackRock's thematic Megatrends platform (BPAY).
The Fundamental Equity (FE) division of BlackRock, led by expert financial technology portfolio manager Vasco Moreno, will be responsible for managing the actively managed ETF.
By investing in businesses that are developing cutting-edge technologies that are upending the financial services sector, the fund aims to maximize total return.
The product launched on August 16 with a 0.70% expense ratio.
The fund is the most recent in a line of thematic ETFs offered by BlackRock. Future U.S. Themes ETF, BlackRock Future Climate and Sustainable Economy ETF, and BlackRock Future Tech ETF were all introduced by BlackRock in 2021. BlackRock introduced the Future Innovators ETF and BlackRock Future Health ETF a year earlier. Six ETFs altogether are now part of the thematic platform.
According to Moreno, the chief portfolio manager of BPAY, the use of fintech rose by 30% in just the United States during the pandemic.
"Through BPAY, investors are granted direct access to global companies that are driving the next leg of growth and leading the digital revolution in areas across the entire value chain such as payment systems, banking, investments, lending, and insurance and software," he continued.
Jay Jacobs, U.S. head of thematics and active equities ETFs at BlackRock, continued, "with a long history in thematic investing, BlackRock is committed to providing access to forward-looking investment themes via targeted, transparent and cost-effective vehicles."
According to him, BPAY is an excellent example of the company's "deep fundamental research expertise, strong active and index platforms, and focus on innovation."
With over $50 billion (€4.95 billion) in AUM and 44 products across active and indexed funds, BlackRock's thematic platform is the largest in the world.
By fLEXI tEAM