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The company is said to always strive to offer its clients the best-in-class solutions to help capture exciting opportunities, and the Metaverse is certainly one of those.
Invesco (NYSE: IVZ) has announced that it is going to launch the Invesco Metaverse Fund that will invest in a wide range of companies, including large, medium, and small-cap companies across the United States, Asia, and Europe.
According to the announcement, the global investment management firm’s metaverse fund will focus on seven key sectors, which include next-generation operating and computer systems, hardware and devices that provide access to the Metaverse, networks for hyperconnectivity, immersive platforms developed with artificial intelligence, blockchain, the interchange tools necessary to bring about interoperability and services and assets that will facilitate the digitization of the real economy.
The fund will also encompass companies whose stocks help facilitate, create, or benefit from the growth of immersive virtual worlds and will be jointly managed by Tony Roberts, fund manager, and James McDermottroe, deputy fund manager, both members of Invesco’s UK-based Asia & Emerging Markets equities team.
Speaking after the announcement, Tony Roberts revealed that virtual and augmented reality could deliver an estimated £1.4 trillion in revenue to the global economy by 2030.
“While the metaverse’s applications to entertainment are increasingly well-understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education, and sports. We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach,” he stated.
Alexander Millar, head of UK distribution at Invesco, also chipped in after the announcement, stating that the company will always strive to offer its clients the best-in-class solutions to help capture exciting opportunities, and the Metaverse is certainly one of those.
“Our experienced Asia & Emerging Markets team is uniquely well-placed to pick the winners of this emerging global megatrend through its disciplined and robust, fundamental approach,” he stated.
The MSCI AC World (Net Total Return) benchmark will reportedly be used to gauge the performance of Invesco’s new fund, and its management fee will be 0.75% on the UK’s z share class.
Invesco now joins Axa Investment Management, HSBC, and Fidelity as fund managers to invest in the metaverse funds this year.
Metaverse funds have skyrocketed in popularity this year, which has seen them attract investments from both the tech and crypto spaces. Many coin prices in metaverse projects are quite low, which has also presented an untapped investment opportunity for investors in the crypto space.
ApeCoin (APE), Battle Infinity (IBAT), Sandbox (SAND), Decentraland (MANA), and AXIE INFINITY (AXS) are all projects that have seen considerable growth this year in the metaverse.