Invesco (NYSE: IVZ) has announced the launch of the Invesco Metaverse Fund, which will invest in a diverse range of companies across the United States, Asia, and Europe, including oversized, medium, and small-cap companies.
Invesco metaverse funds to focus on seven key factors!
According to the announcement, the global investment management firm’s metaverse fund will focus on seven key sectors. Including 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 required to achieve interoperability, and services and assets that will facilitate the digitization of the Metaverse.
The fund will also include companies whose stocks facilitate, create, or benefit from the growth of immersive virtual worlds. It will be co-managed by Tony Roberts, fund manager, and James McDermottroe, deputy fund manager, both of whom work for Invesco’s Asia & Emerging Markets equities team in the United Kingdom.
Speaking after the announcement, Tony Roberts revealed that virtual and augmented reality could generate an estimated £1.4 trillion in revenue for the global economy by 2030.
“While the metaverse’s applications to entertainment are becoming clearer, the interconnectivity it enables will almost certainly have a transformative impact across industries as diverse as healthcare, logistics, education, and sports. We will pursue these opportunities with a highly selective, valuation-conscious approach,” he said.
Following the announcement, Alexander Millar, head of UK distribution at Invesco, stated that the company will always strive to offer its clients best-in-class solutions to help capture exciting opportunities. The Metaverse is undoubtedly one of those.
“Through its disciplined and robust, fundamental approach, our experienced Asia & Emerging Markets team is uniquely well-placed to pick the winners of this emerging global megatrend,” he said.
According to reports, Invesco’s new fund will be measured against the MSCI AC World (Net Total Return) benchmark, and its management fee will be 0.75% on the UK’s z share class. This year, Invesco will join Axa Investment Management, HSBC, and Fidelity as fund managers investing in metaverse funds.
This year has seen a surge in metaverse funds’ popularity, attracting investments from both the tech and crypto sectors. Many coin prices in metaverse projects are pretty low, creating an untapped investment opportunity for crypto investors.
ApeCoin (APE), Battle Infinity (IBAT), Sandbox (SAND), Decentraland (MANA), AXIE INFINITY (AXS), and Highstreet (HIGH) are just a few of the projects that have seen significant growth in the Metaverse this year.