Alternative Investments/Fintech: BlackRock Launches Another ‘Megatrend’ ETF Focused On Disruptive Fintech
The BlackRock Future Financial and Technology ETF trades on NYSE ARCA.
BlackRock (NYSE: BLK) announced the expansion of its Megatrends suite with the launch of the BlackRock Future Financial and Technology ETF (NYSEARCA: BPAY), an ETF that invests in companies delivering innovative and emerging technologies that are driving disruption within the financial services industry. The actively managed fund will be run by Lead Portfolio Manager Vasco Moreno of BlackRock’s Fundamental Equity (FE) franchise. (Businesswire)
BlackRock Future Financial and Technology ETF (NYSEARCA: BPAY)
The new ETF becomes the sixth active ETF in BlackRock’s U.S. Megatrends platform, and the fifth under the FE franchise. It offers exposure to the full fintech value chain.
The ETF will track the MSCI ACWI Index and has an expense ratio of 0.70%.
“In the United States alone, the use of fintech increased by 30% during the pandemic,” said Moreno. “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.”
“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,” said Jay Jacobs, U.S. Head of Thematics and Active Equity ETFs at BlackRock. “BPAY is representative of the firm’s deep fundamental research expertise, strong active and index platforms, and focus on innovation.”
As on August 18, net assets if the fund were $4.9 million, its NAV was $24.40, and closing price was $24.45.
The ETF had 37 holdings as on August 17, 2022.
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