BlackRock expands thematic ETF range with financial tech fund

FinTech.jpgBlackRock has expanded its thematic Megatrends platform with the launch of the BlackRock Future Financial and Technology ETF (BPAY).

The actively managed ETF will be overseen by BlackRock’s Fundamental Equity (FE) franchise, headed by specialist financial technology portfolio manager Vasco Moreno.

The fund seeks to maximise total return by investing in companies delivering innovative and emerging technologies driving disruption within the financial services industry.

The fund went live on 16 August, with an expense ratio of 0.70%.

The fund is the latest in BlackRock’s range of thematic ETFs. In 2021, BlackRock launched the Future US Themes ETF and the BlackRock Future Climate and Sustainable Economy ETF. The prior year it launched ETFs on the themes of future tech, future innovators, and future health.

In total, the thematic platform now contains six active ETFs.

In the United States alone, the use of fintech increased by 30% during the pandemic, said Moreno, lead portfolio manager of BPAY. 

“Through BPAY, investors are granted direct access to global companies that are driving the next leg of growth and leading the digital revolution in areas across the entire value chain such as payment systems, banking, investments, lending, and insurance and software,” he added.

“With a long history in thematic investing, BlackRock is committed to providing access to forward-looking investment themes via targeted, transparent and cost-effective vehicles,” added Jay Jacobs, US head of thematics and active equity ETFs at BlackRock

“BPAY is representative of the firm’s deep fundamental research expertise, strong active and index platforms, and focus on innovation,” he said.

BlackRock’s thematic platform is the world’s largest, spanning 44 products across active and indexed funds, with over $50 billion (€4.95 billion) in AUM.

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