BlackRock has expanded its Megatrends platform with the launch of the BlackRock Future Financial and Technology ETF (BPAY). The fund seeks to maximize total return by investing in companies delivering innovative and emerging technologies that are driving disruption within the financial services industry.
Though actively managed, BPAY uses the MSCI ACWI Index as a reference benchmark.
“In the United States alone, the use of fintech increased by 30% during the pandemic,” said Vasco Moreno, lead portfolio manager of BPAY, in a news release. “Through BPAY, investors are granted direct access to global companies that are driving the next leg of growth and leading the digital revolution in areas across the entire value chain such as payment systems, banking, investments, lending, and insurance and software.”
BPAY is the sixth active ETF in BlackRock’s U.S. Megatrends platform, and the fifth from the FE franchise, which includes other future-focused actively managed thematic ETFs targeting technology, innovators, health, and environmental economy. The FE organization harnesses the power of human intellect, industry-leading technology, and the global scale of BlackRock in their mission to deliver consistent, risk-managed alpha.
“The financial services industry has been rapidly shifting and no longer consists of traditional banks and brokerages,” said Todd Rosenbluth, head of research at VettaFi. “It is exciting to see BlackRock expand its thematic suite of products to actively identify future winners in the space, as they have the scale and resources to offer a differentiated product.”
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Jay Jacobs, U.S. head of thematics and active equity ETFs at BlackRock, added: “With a long history in thematic investing, BlackRock is committed to providing access to forward-looking investment themes via targeted, transparent, and cost-effective vehicles. BPAY is representative of the firm’s deep fundamental research expertise, strong active and index platforms, and focus on innovation.”
BPAY has an expense ratio of 0.70%.
BlackRock offers the largest active and index thematic platform in the world, spanning 44 products with over $50 billion in AUM.
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