ROBO, believed to be the first robotics and automation exchange traded fund, has reached a new milestone in terms of its assets under management.
Index provider ROBO Global, which has holdings in more than 100 listed companies, says investors have embraced its dedicated focus on robotics, automation and artificial intelligence.
The ROBO Global Robotics & Automation Index ETF recently surpassed $1 billion in assets under management, and its managers say it has achieved the psychologically significant benchmark less than four years after launching.
The ETF tracks the ROBO Global Robotics & Automation Index, which is the brainchild of a team that says it is “deeply entrenched in the robotics industry who created the innovative methodology”.
The Index and subsequent ETF aims to offer investors access to the entire value chain of robotics, automation and artificial intelligence.
The ROBO Global Robotics & Automation Index is comprised of 83 global companies from 14 countries in North America, Europe, Asia and the Middle East and is said to offer almost no overlap with traditional equity indices.
ROBO crossed the $1 billion assets under management mark last week, on August 8. Combined with a growing number of funds in Europe and Asia also tracking the ROBO Global Index total assets under management is now well over $1.6 billion, says the company.
Travis Briggs, CEO of ROBO Global US, says: “As the Index provider to ROBO, we’d like to sincerely thank the investors who have embraced our methodology and placed their trust in our boutique firm.
“We don’t take that lightly, and that’s why we have assembled the premier robotics investing team and advisory board to singularly focus on this sector and investor return.
“Our Index was carefully constructed to give our investors diversified access to the large, mid and small-cap companies that are at the forefront of the robotics revolution that is changing the way we consume goods and how companies conduct business.”
ROBO Global licensed its Index to leading turnkey ETF platform Exchange Traded Concepts to develop the ETF.
Briggs says: “We are grateful to ETC for their support and for a wonderful partnership over the years.”
J. Garrett Stevens, CEO of ETC, says: “Exchange Traded Concepts is fiercely supportive of our partners who come to us looking to take an innovative idea to the next level.
“The market has spoken, and there is clearly an appetite for pure play exposure to the robotics industry, a concept that appeals to retail investors and financial advisors, as well as institutional investors.”