Horizons ETFs launches robotics and automation index ETFBy The IJ Staff | November 29 2017 11:30AM
Horizons ETFs Management has announced the launch of the Horizons Robotics and Automation Index ETF (Horizons ROBO). The company says this is the first exchange traded fund in Canada to offer global exposure to the robotics and automation industry.
Units of the ETF began trading Nov. 29 on the TSX under the ticker symbol ROBO. The ETF’s management fee is 0.75 per cent.
Will seek to hedge U.S. currency exposure
Horizons ROBO aims to replicate the performance of the ROBO Global Robotics and Automation Index. Horizons says the fund “will be mainly invested in the equity securities of issuers within the index and will seek to hedge its U.S. currency exposure to the Canadian dollar at all times.”
"We could be witnessing the most transformative technological change of our lifetime as robotics and automation start to become integral to much of what we do on a daily basis," said Steve Hawkins, President and Co-CEO of Horizons ETFs. "Despite the quick ascendency of the Robotics, Automation and Artificial Intelligence sectors, it's still in its very early days. This could be the largest untapped investment opportunity for Canadian investors, particularly since very few likely own these stocks in their equity portfolios."