Global asset manager Invesco has announced the launch of an investment fund focused on metaverse companies.
The Invesco Metaverse Fund is approximately $30 million in size and will invest in large, medium, and small-cap companies across the Metaverse Value Chain, which “encompasses many distinct and interrelated sectors that help facilitate, create, or benefit from the growth of immersive virtual worlds.”
The fund will invest in companies across the USA, Asia and Europe, including stocks related to the creation and use of immersive virtual worlds. It will be jointly managed by Tony Roberts, fund manager, and James McDermottroe, deputy fund manager.
“While the metaverse’s applications to entertainment are increasingly well understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education and sport,” said Roberts.
“We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach.”
The fund will invest in seven thematic areas of the industry – next-generation operating and computer systems, hardware and devices that provide access to the metaverse, networks for hyperconnectivity, immersive platforms developed with artificial intelligence, blockchain, the interchange tools necessary to bring about interoperability and services and assets that will facilitate the digitisation of the real economy.
The fund will impose a management fee of 0.75% and its performance will be measured against the MSCI AC World (Net Total Return) benchmark.