Global X ETFs introduces US infrastructure development fund on ASX

Posted by Anton Murray Consulting on 7 Jun, 2024

InvestorDaily

Global X ETFs has launched the Global X US Infrastructure Development ETF (PAVE) on the ASX, designed to invest in companies that are expected to benefit from increased infrastructure investment in the US. According to the firm, this includes companies involved in the production of raw materials, heavy equipment, engineering, and construction. PAVE tracks the Indxx US Infrastructure Development Index.

Chief executive Evan Metcalf highlighted that infrastructure development, which is distinct from investing in infrastructure assets themselves, is “critical for the growth and modernisation of any economy”. “Within the US, recent legislative acts are directing substantial funding towards infrastructure initiatives, signalling enormous growth potential for companies in this sector,” Metcalf explained. “This investment opportunity aligns strongly with our core investment thesis of research and innovation. Building on our successful track record of pioneering thematic products in Australia – including recent launches across crypto, technology, and AI – we are excited to introduce this unique infrastructure development ETF to Australian investors.”

The rest of this article can be found at investordaily.com.au.

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