ROBO-STOX Global Robotics and Automation ETF surpasses USD75m AUM

The ROBO-STOX Global Robotics and Automation Index ETF has grown to more than USD75m in assets under management as of 28 January 2014.

The fund became available to investors on Nasdaq through the Exchange-Traded Concepts platform on 22 October 2013 and as of 4 February the fund's shares were trading at 2.8 per cent above their USD25 initial public offering.
By comparison, the S&P 500 increased by 0.6 per cent during the same period.
Also as of 4 February, the fund's net asset value had risen by 2.12 per cent since the IPO.
The fund's growth over the past three months potentially reflects the surge of Wall Street interest in the robotics and automation sector. Banks, brokerages and research institutions have highlighted robotics and advanced manufacturing as industries that are well-positioned for additional expansion. For example, Bank of America's US Trust 2014 Investment Strategy Overview stated that the proliferation of robots will likely become further solidified this year. In addition, the Massachusetts Institute of Technology's MIT Technology Review listed 3-D printing technology for automated precision manufacturing as one of the 10 breakthrough technologies of 2013.
"The past year was a breakout one for the robotics and automation sector as Wall Street and the wider investment community took notice of the industry's progress on a variety of fronts," says Rob Wilson, chief executive officer of ROBO-STOX. "As more and more businesses around the world incorporate robots into their operations, investors can utilise our fund to participate in the accelerating growth of this sector."
ROBO-STOX's ETF tracks the ROBO-STOX Global Robotics and Automation Index, the first benchmark index dedicated to following robotics and automation companies. The quarterly rebalanced composite includes 78 domestic and international robotics- and automation-related firms that meet the S&P DJI Global Broad Market Index's listing criteria. To mark the ETF's launch, ROBO-STOX teamed up with Universal Robots, the Danish manufacturer of industrial robots, to have a robot ring the closing bell at the Nasdaq MarketSite in New York's Times Square on 12 November 2013.

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