Canada-headquartered Purpose Investments has launched what is claimed to be the world’s first pure play enterprise software ETF.
The third ETF that Purpose Investments has issued on the HANetf platform, the ETF will offer exposure to a selection of enterprise software companies said to be at the forefront of the so-called digital revolution.
The ETF focuses on Software as a Service – or SaaS – companies that are positioned to benefit from global software megatrends.
The portfolio will consist of some household names, including Adobe, Shopify, and Twitter.
Companies with exposure to controversial weapons and fossil fuels will be excluded. The ETF has been designated as article 8 under the Sustainable Finance Disclosure Regulation.
Som Seif, founder and CEO of Purpose Investments, said: “The software industry plays an important role in our everyday lives, from business support to photo editing, and has long been at the crux of commercial enterprise.
“The global pandemic drove unprecedented growth in the sector, as businesses were forced to pivot and further embrace digitisation, and we believe these trends will have long lasting implications.”
The ETF will have a total expense ratio of 0.59% and will track the Solactive Purpose Enterprise Software ESG Screened Index NTR.
The Purpose Enterprise Software ESG-S Ucits ETF will list on the London Stock Exchange in late July.
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