iShares, the ETFs business of BlackRock, has launched iShares Exponential Technologies ETF, which aims to track the Morningstar Exponential Technologies Index.
The new ETF is inspired by an idea from Edelman Financial Services.
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According to BlackRock, the new ETF will provide global exposure to companies identified as leaders across key areas of technological transformation – from big data and analytics to nanotechnology and bioinformatics.
BlackRock’s head of dedicated RIA business Hollie Fagan said, "We are thrilled for the opportunity to collaborate with Edelman and Morningstar. BlackRock is committed to client-led innovation, working to bring liquid, transparent investment opportunities previously unavailable to most investors.
"This ETF is testament to BlackRock’s willingness to create innovative products when requested by a member of the financial community and a continuation of our commitment to democratize access to markets for all investors."
Morningstar’s Equity Research team developed the index by sorting out companies that are at the forefront of nine disruptive technology trends across various established industries.
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