CSOP has launched the CSOP Global Cloud Computing Technology Index ETF tracking the Solactive Global Cloud Computing Technology Index.
In its initial stages, cloud computing was known to the general public as a simple way to save and share files online. Now cloud services pervade all kinds of interconnected services from, hosting software operations (Software as a Service – SaaS), enabling customers to instantiate, run, and manage a modular bundle comprising a computing platform (Platform as a Service – PaaS), and offering basic low-level networks or physical computer resources [Infrastructure as a Service – IaaS). With the global rollout of 5G technology, companies operating in the cloud computing segment are likely to benefit from the insatiable demand for interconnectivity.
In the first stage, companies are included based on their industry classification according to FactSet’s Revere Business Industry Classification System (RBICS). Therefore, eligible companies can belong to either enterprise management software or internet hosting services industry groups. Furthermore, companies providing software for network infrastructure, communications infrastructure, data storage infrastructure, and diversified IT infrastructure can be included in the index. Moreover, companies providing data storage drives and peripherals, information and disk storage systems, and multi-type data storage hardware makers are eligible for index inclusion. Additionally, companies exhibiting low liquidity and market capitalisation criteria are excluded from the index.
Timo Pfeiffer, Chief Markets Officer at Solactive, says: “Cloud computing technology changed the way we connect and work with each other. It is like that song ‘Everywhere you go, you always take the weather with you’; in our case, the cloud is always above us. In combination with a global rollout of 5G technology, cloud technology will enable us to roam freely, choosing where we want to work, while having all our valuable and essential data in the cloud. In this context, we are thrilled to expand our collaboration with Asian ETF powerhouse CSOP, bringing the next innovative product to the Hong Kong market.“
Melody He, Managing Director and Head of Sales and Product Strategy at CSOP AM, says: “We are very excited to kickstart our involvement in the fast-growing field of thematic ETFs with the release of the CSOP Global Cloud Computing Technology Index ETF. After the successful launch of our 2x leveraged Gold ETP (7299.HK) together with Solactive last year, we are delighted to continue our collaboration with the German index provider for this new important milestone in CSOP’s prosperous growth story. As one of the market leaders in Thematic Indexing, Solactive shares our spirit for innovation, and we look forward to further intensifying our commitment in thematic ETFs with Solactive to offer more high-quality products for our investors.”