Invesco has expanded its thematic range of funds with an offering focused on metaverse-related equities.
The Invesco Metaverse fund will invest in large, medium and small-cap companies across the US, Asia and Europe, encompassing stocks related to the creation and use of immersive virtual worlds.
The metaverse has been touted as the next generation of online social interaction, with Facebook parent company Meta betting heavily on the future of such immersive technologies.
The fund will be jointly managed by Tony Roberts, fund manager, and James McDermottroe, deputy fund manager. Both managers are members of Invesco’s UK-based Asia and Emerging Markets equities team.
The fund, available to a pan-European cohort of investors, will invest in seven key thematic areas that Invesco says go beyond the well-established areas of the industry: next-generation operating and computer systems, hardware and devices that provide access to the metaverse, networks for hyperconnectivity, immersive platforms developed with artificial intelligence, blockchain, the interchange tools necessary to bring about interoperability and services and assets that will facilitate the digitisation of the real economy.
“It has been estimated that, by 2030, virtual and augmented reality could deliver a £1.4trn boost to the global economy,” said Roberts.
“While the metaverse’s applications to entertainment are increasingly well understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education and sport. We will seek to capitalise on these opportunities through a highly selective, valuation-conscious approach.”
The fund’s performance will be measured against the MSCI AC World (Net Total Return) benchmark. The management fee will be 0.75%.
“At Invesco, we will always aim to offer clients best-in-class solutions to help capture exciting opportunities – and the Metaverse is certainly one of these,” added Alexander Millar, head of UK distribution at Invesco.
“Our experienced Asia & Emerging Markets team is uniquely well placed to pick the winners of this emerging global megatrend through its disciplined and robust, fundamental approach,” he added.
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