Atlanta, Georgia-based investment-management giant Invesco is unveiling an equity fund focused on the metaverse, according to a report by UK publication Citywire.
The report says that Invesco is setting up a fund that will invest in metaverse-focused firms ranging in size from small-cap to large caps.
The firms in the immersive virtual world sector that Invesco is targeting are based in the United States, Europe and Asia, per the report.
Quoting Invesco fund manager, Tony Roberts, the report says that the metaverse sector could be valued at $1.65 trillion by 2030.
According to Roberts, some of the industries that will be impacted by the metaverse’s technology include education, entertainment, healthcare, logistics and sports.
“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.
We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach.”
A little over a year ago, Invesco filed for a Bitcoin (BTC) exchange-traded fund (ETF) that sought to provide indirect exposure to the flagship crypto asset through exchange-traded products (ETPs) and private investment trusts.
In October, Invesco launched two passively managed ETFs that concentrated on digital assets as well as blockchain technology.
As at the end of July, Invesco boasted $1.61 trillion of assets under management.
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Source: https://dailyhodl.com/2022/08/22/1610000000000-investment-manager-launches-new-metaverse-fund-report/