Indxx has gained the licensing of its Indxx Global Robotics & Artificial Intelligence Thematic Index Methodology to Mirae Asset Global Investments as the underlying benchmark for the TIGER Global AI & Robotics Indxx ETF (Ticker:464310) which began trading recently on the Korea Exchange (KRX).
Indxx Global Robotics & Artificial Intelligence Thematic Index is designed to track the performance of companies listed in developed markets that are expected to benefit from the increased adoption and utilization of Robotics and Artificial Intelligence, including companies involved in Industrial Robotics and Automation, Non-Industrial Robots, Artificial Intelligence and Unmanned Vehicles.
Rahul Sen Sharma, CEO at Indxx, says: “Artificial intelligence is poised to define this decade. We are seeing tremendous adoption of Robotics and AI exposure.
“The Global Robotics & Artificial Intelligence Index is one of our most popular indices, with Mirae Asset Global Investments launching the ETF tracking this index.
“We are excited to partner with Mirae Asset Global Investments, who recognize the value in providing investors with well-rounded exposure as this technology comes into its own.”
Chandan Kumar GV, head of index products at Indxx, adds: “At Indxx, each index represents a unique methodology backed by extensive research.
“By partnering with Mirae Asset Global Investments, we are thrilled to allow a new cohort of investors to increase their exposure to companies paving the way in robotics and AI.”
Minkyoo Song, senior manager at Mirae Asset Global Investments, says: “With our launch of the new ‘TIGER Global AI & Robotics Indxx ETF (464310)’ we are excited to offer a way to invest in the rapidly-growing AI & Robotics industry.
“Generative AI has been receiving continuous attention since last year, and we think the robotics industry can create a powerful synergy with the growth of AI.
“Existing industrial robots were mostly focused on executing relatively simple tasks, but the advancement of AI technology allows robots to make judgments, making the scope of utilization much broader.
“In addition, due to the aging population and rising wages caused by inflation, major countries are very keen on promoting both the AI and robotics industries.”
As of August 17, 2023 the Indxx Global Robotics & Artificial Intelligence Thematic Index has 42 constituents. The index has been back-tested to June 30, 2010, and has a live calculation date of August 29, 2016.