The first ETF to target the Israel technology industry, the BlueStar TA-BIGITech Israel Technology ETF (ITEQ), has changed its name to BlueStar Israel Technology ETF.
After more than two years of steady growth and positive market adoption, this change is designed to simplify ITEQ’s product messaging, highlight the BlueStar brand and strengthens the association between the fund’s name and Israel’s cutting-edge technology sector.
Since its first day of trading on 3 November, 2015, the BlueStar Israel Technology ETF has provided investors a transparent vehicle to invest directly in the Israel tech industry and has grown to over USD36 million in assets to date. In 2017, ITEQ saw a 504 per cent increase in assets under management and beat the S&P 500 by 5.74 per cent.
BlueStar Indexes Founder and Chief Investment Officer, Steven Schoenfeld, says: “We are proud of the growth and performance of both ITEQ®and its underlying BlueStar Israel Global Technology benchmark since its launch, and we believe that streamlining the fund’s name is a great way to highlight cutting-edge Israeli technology companies in the ETF. We are confident that many more investors will be discovering ITEQ in the coming months to allocate to Israeli tech stocks.”