The leading investment management company, Invesco, has launched a metaverse fund, which will invest in large, medium, and small-cap firms that have established operations around virtual reality.
The financial behemoth had filed paperwork to introduce two crypto-based ETFs in the USA last year. However, a few months later, it abandoned its plans and accused the US SEC of having a hostile attitude toward such products.
Nevertheless, the multinational investment company is recently the most well-known entity to join the metaverse. It unveiled a fund that will invest in European, Asian, and American businesses with products and services in the augmented reality arena.
Tony Roberts will act as the Fund Manager, and James McDermottroe will serve as a Deputy Fund Manager. Both executives work for Invesco’s UK-based Asia and Emerging Markets Equities faction.
The Invesco metaverse fund will concentrate on a number of strategic areas, including next-generation computer and operating systems, networks for hyperconnectivity, immersive platforms created with artificial intelligence, and hardware and gadgets that enable access to the metaverse.
By 2030, according to Roberts’ comments on the project, virtual and augmented reality could boost the world economy by $1.6 trillion.
“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 sport,” he said.
The head of Invesco’s UK distribution, Alexander Millar, stated that the company constantly endeavors to deliver best-in-class solutions for its customers. The metaverse is undoubtedly one of its upcoming focus areas.
“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 said.
The investment firm, which manages more than $1.6 trillion in assets, announced last year that it would launch two exchange-traded funds (ETFs) with a focus on cryptocurrencies: the Invesco Galaxy Crypto Economy ETF and the Invesco Galaxy Blockchain Economy ETF.
Follow us on Linkedin.
Read other Articles
