In a significant development in the investment domain, STOXX Ltd., part of the ISS STOXX group of companies, has announced the expansion of its collaboration with BlackRock by launching two new iShares ETFs. These ETFs are designed to track the STOXX Global AI Infrastructure and STOXX Global AI Adopters and Applications thematic indices, reflecting the growing prominence of artificial intelligence (AI) in the business landscape.
Manuela Sperandeo, Head of Europe & Middle East iShares Product at BlackRock, highlighted the transformative potential of AI in the investment arena, stating, “AI is transforming the investment landscape, offering unprecedented potential growth and innovation opportunities. We are committed to empowering investors with the choice to access AI through the convenience of the ETF wrapper.” The rise of exchange-traded funds (ETFs) has been notable, with the publication noting that one in five investors in Europe now holds such investments, marking a 19 per cent increase in ETF investors since 2022.
The newly launched STOXX Artificial Intelligence (AI) Suite of thematic indices aims to provide a comprehensive overview of companies involved throughout the AI value chain. This includes everything from essential building blocks like semiconductors, cloud computing, and big data technologies to businesses that are set to gain significantly from AI advancements. The index construction utilises the STOXX Thematics Framework, which employs revenue and/or patent-based methodologies to encompass a wide array of organisations at various stages of AI adoption.
Axel Lomholt, General Manager at STOXX, expressed enthusiasm about the collaboration, stating, “Artificial intelligence is a key, megatrend theme for investors and we are delighted to announce our collaboration with BlackRock, leveraging STOXX’s established capabilities as a leading provider of thematic indices.” He further commented on the significance of the STOXX Artificial Intelligence Suite, which aims to offer a flexible and diversified approach that allows investors to engage with the AI theme across different phases of its market adoption. This makes it possible for investors to identify both well-established companies and emerging innovators within the AI sector.
This partnership underscores the increasing importance of AI in investment strategies, as businesses and investors alike aim to adapt to and benefit from the rapid advancements in technology.
Source: Noah Wire Services