METL targets sustainable energy metal providers such as copper, mobility metals like lithium and future tech metals including silicon and germanium.
The First Trust Indxx Future Economy Metals UCITS ETF (METL) aims to provide investors with exposure to companies producing metals and minerals necessary for the advancement of the energy transition and development of computing technology.
METL targets sustainable energy metal providers such as copper, mobility metals like lithium and future tech metals including silicon and germanium.
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Rahul Sen Sharma, president and co-CEO at Indxx said: «Metals and minerals are instrumental in propelling the shift from fossil fuels to renewable energy, electric vehicles, and hydrogen production.
»The International Energy Agency anticipates a six-fold rise in mineral demand by 2050, owing to the shift towards a carbon-free economy. Our Global Future Economy Metals index offers exposure to companies facilitating this transition.
«We are thrilled to collaborate with First Trust in bringing this innovative strategy to the European market.»
Rupert Haddon, managing director at First Trust, added: «As technologies like AI and solar advance, the companies producing the necessary metals should be poised for growth.»
First Trust also unveiled a second portfolio, tracking the Bloomberg Scarce Resources index.
The First Trust Bloomberg Scarce Resources UCITS ETF (SCAR) also launched today and provides exposure to emerging geopolitical and energy security trends by investing in companies that actively address global resource challenges.
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