The largest asset manager globally BlackRock (NYSE:BLK), has added a new exchange-traded fund to its portfolio, the BlackRock Future Financial and Technology ETF (BPAY).

The goal of BPAY is to expose the investment community to stocks that are reshaping the financial services industry. The cost ratio for the new fund is 0.70 percent.

Additionally, BPAY is made up of 38 distinct holdings, with Charles Schwab (SCHW) and SVB Financial Group leading the way (SIVB). More than 11% of the portfolio of the fund is made up of these names. SIVB makes for 5.37% of BPAY’s holding, while SCHW accounts for 5.87% of its net assets.

Vasco Moreno, Lead Portfolio Manager of BPAY, commented on the debut of the funds by saying that “the use of fintech surged by 30% during the pandemic in the United States alone.”

Through BPAY, investors have direct access to multinational corporations that are spearheading the digital transformation and driving the next phase of growth in industries spanning the whole value chain, including payment systems, banking, investments, lending, insurance, and software.

BPAY is the fifth active ETF from the FE brand, which also comprises other future-focused actively managed thematic ETFs focusing on technology, innovators, health, and environmental economy. It is the sixth active ETF in BlackRock’s U.S. Megatrends platform. In order to consistently provide risk-managed alpha, the FE organization leverages the strength of human intelligence, market-leading technology, and the global scope of BlackRock (NYSE:BLK).

According to Jay Jacobs, U.S. Head of Thematics and Active Equity ETFs at BlackRock, “With a long history in thematic investing, BlackRock is committed to offering access to forward-looking investment themes via targeted, transparent, and cost-effective vehicles.” BPAY is an example of the company’s broad foundational research capabilities, robust active and index platforms, and innovation-centered approach.

BlackRock provides 44 products with more than $50 billion in AUM2, making it the largest active and index thematic platform in the world.

BlackRock

BlackRock’s mission is to aid in the financial well-being of as many individuals as possible. As a major provider of financial technology and a fiduciary to investors, we assist millions of people in creating savings that will last them throughout their lives by making investing simpler and more accessible.

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