Invesco has added a product centered on stocks connected to the metaverse to its thematic fund lineup.
The Invesco Metaverse fund, which includes stocks connected to the development and use of immersive virtual worlds, will invest in large, medium, and small-cap enterprises throughout the US, Asia, and Europe.
The Facebook parent company Meta, which gambled significantly on the future of such immersive technologies, has hailed the metaverse as the next wave of online social interaction.
Tony Roberts, the fund manager, and James McDermottroe, the deputy fund manager, will work together to run the fund. Both managers work for Invesco’s Asia and Emerging Markets equities team in the UK.
The fund, which is open to a pan-European group of investors, is set to make investment in 7 main thematic areas that, according to Invesco, extend beyond the entrenched areas of the industry: cutting-edge operating and computer systems, hardware and gadgets that enable access to the metaverse, networks for hyperconnectivity, interactive platforms created with ai technology, blockchain, and the interchange tools required to bring about interoperability. The fund will also invest in services and assets that, according to Invesco, are in demand.
Roberts said that virtual and augmented reality are predicted to boost the world economy by £1.4 trillion by 2030.
According to him, the interconnectivity that the metaverse makes possible will probably have a transformative effect across industries as disparate as healthcare, logistics, education, and sport, according to Roberts, who argued that while the applications of the metaverse to entertainment are increasingly well understood.
Roberts also said that they are going to take a very careful, value-conscious approach to try to take advantage of these chances.
The performance of the fund will be evaluated in comparison to the MSCI AC World (Net Total Return) benchmark. A 0.75% administration fee will be charged.
