ETF Securities FANG+ ETF exceeds $100m in FUM

FAANG/ETF-Securities/

22 October 2020
| By Oksana Patron |
image
image
expand image

ETF Securities has announced that its FANG+ exchange traded fund has surpassed $100 million in funds under management (FUM) and, as of 19 September, the fund had $128 million in FUM.

The firm said that investors were showing increased interest to gain more exposure to the FAANG (Facebook, Amazon, Apple, Netflix, Google) stocks through the NYSE FANG+ index, which had a proven track record of delivering above-average returns and enabled investors to take positions and manage risk in the most actively traded technology stocks.

The index was equally weighted and included the five core FAANG stocks and another five actively-traded technology growth stocks – Alibaba, Baidu, NVIDIA, Tesla and Twitter.

According to Kanish Chugh, head of distribution at ETF Securities, this year was challenging for most sectors in terms of performance and the diminishing prospects of a quick recovery and increasing length of the current COVID-19 malaise globally pushed investors to look for ‘safe haven’ options.

“The FANG+ ETF continues to deliver outstanding returns. Since inception in March this year, the fund has returned 57.94% total return (as of 15 October),” he said.

“The recent pull back in US technology stocks over September was not unexpected, with the NYSE FANG+ Index plunging 6%, and the share price of Apple and Tesla diving 8% and 6.5%, respectively. Prices have since recovered, with many investors viewing the falls as a buying opportunity.

“This ETF continues to be ideally suited to investors seeking to build wealth over the medium to long term,” Chugh said.

ETF Securities FANG+ Top 10 holdings

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND