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NH-Amundi Asset Management launches Generative AI Active ETF using Solactive index 


Index provider Solactive writes that the generative AI market is thriving with promising perspectives. Research foresees that the sector has the potential to grow to USD1.3 trillion within 10 years from a size of just USD40 billion in 2022, at a compound annual growth rate of 42 per cent, the firm says. 

The firm writes that generative AI belongs to artificial intelligence systems that can produce or generate original content instead of only analysing or categorising pre-existing data. In line with this landscape, NH-Amundi Asset Management and Solactive have joined forces for the first time to introduce the NH Amundi HANARO Global Generative AI Active ETF, adopting Solactive United States Technology 100 Index as its benchmark. 

The ETF aims to provide exposure to overseas companies operating in the field of generative AI. It was listed on 11 July in the Korea Exchange (KRX) under the ticker 461340.KS, marking what Solactive calls ‘a significant milestone in the collaboration between NH-Amundi Asset Management and Solactive’.

The Solactive United States Technology 100 Index comprises 100 stocks and intends to track the performance of different market segments on the Nasdaq Stock Exchange. To be included as a component in the index, a security must be listed on the Nasdaq stock exchange and have its primary listing in the United States. The securities within the index universe are then arranged based on their full security market capitalisation, prioritising larger market capitalisation values. However, as it will be managed in an active manner, the stocks of the ETF will not be restricted to the index.   

Timo Pfeiffer, Chief Markets Officer at Solactive, says: “The widespread success of OpenAI’s ChatGPT has demonstrated the immense capabilities of generative AI on a large scale. As it enables the development of innovative products and services across various industries, it can have the potential to unlock new revenue streams. We are delighted that NH-Amundi recognizes this potential and chose us to be the index provider for this new active ETF in our first of many engagements.”

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