Asset management house WisdomTree has announced the launch of the Global Automotive Innovators UCITS exchange-traded fund (ETF) this morning.
Listing on the London stock exchange on 28 September, the vehicle will track the WisdomTree Berylls LeanVal Global Automotive Innovators NTR index and will provide exposure to global automotive and mobility companies that meet WisdomTree’s environmental, social and governance (ESG) criteria.
The goal, explained global head of research Christopher Gannatti, is to exploit the transformational forces at play in the mobility sector.
“The automotive and mobility industry is moving from a traditional ecosystem to an extended multimodal ecosystem, leveraging new technologies and attempting to decarbonise transportation services,” he said.
The macro themes that the ETF captures are connectivity, or technology changes towards software-defined vehicles that will unlock new functionalities for drivers, autonomous driving, shared mobility and electrification.
“This [evolution] has created a clear gap for an ETF providing diversified geographic and sector exposure, covering companies that are relevant today and identifying those that stand to benefit the most from the further proliferation of these themes.”
The index is designed and screened by Berylls Strategy Advisors and LeanVal Research and covers “the 100 most relevant and promising publicly listed companies worldwide”, encompassing original equipment manufacturers, suppliers, car dealers, mobility service providers, and infrastructure providers.
Share class information
Source: WisdomTree
Alexis Marinof, head of Europe at WisdomTree said that providing “differentiated and purer thematic exposures than can be found elsewhere in an ETF wrapper […] continues to resonate with investors willing to look beyond traditional benchmarks for diversification”.