The Korea Times
Korean asset managers are rushing to roll out U.S. aerospace-themed exchange-traded funds (ETFs) ahead of the widely anticipated initial public offering (IPO) of Elon Musk's SpaceX in June, industry officials said Wednesday. Shinhan Asset Management said it plans to launch SOL U.S. Space and Aerospace TOP 10 ETF later this month, which will invest exclusively in American companies closely tied to the space industry. An ETF is a basket of securities, such as stocks or bonds, that tracks a specific index. "Investor interest in the U.S. space and aerospace sector has grown on the back of developments such as SpaceX’s listing plans and recent progress in NASA’s Artemis program mission. The ETF will focus on commercial space companies, excluding defense firms," a Shinhan official said. Mirae Asset Global Investments is also preparing to launch a U.S. space technology-themed ETF this month, focusing on listed companies in the sector, while Korea Investment Management is planning a similar product. Unlike most ETFs that passively track an index, Korea Investment Management's fund is expected
Go to News Site