–News Direct–
HAN-GINS ETF managing director Anthony Ginsberg joined Steve Darling from Proactive to discuss the Cloud Tech ETF's impressive performance in a recent interview.
The Cloud Tech ETF has gained over 32% year-to-date and about 20% over the past year, driven by its diversified portfolio of cloud holdings. Unlike other players focused solely on the US, this ETF maintains a global approach with 15% of its weightage in Asia.
The convergence of AI and cloud technology has significantly contributed to its success, with players like Palo Alto Networks and video streaming platforms benefiting. Notably, the Microsoft-Activision acquisition is also seen as a cloud play.
The ETF features 100 holdings that are equally weighted and rebalanced every six months, ensuring comprehensive coverage of the cloud ecosystem.
Ginsberg attributed the rise in cloud adoption to a recessionary environment that has led to outsourcing of servers and reduced IT staff. He projected cloud spending to reach 50% of all IT enterprise spending by next year and an additional trillion dollars in cloud expenditure by 2026. Cloud services offer cost savings and facilitate remote work and cybersecurity. Asia, particularly in gaming, is a major contributor to cloud usage.
The ETF's unique design encompasses infrastructure, software as a service, and platforms as a service, capturing the entire cloud ecosystem. Ginsberg expects the cloud market to double in size within three years, especially as more enterprises transition to outsourcing.
The flexibility of multi-cloud platforms is facilitating data sharing across regions and industries.
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View source version on newsdirect.com: https://newsdirect.com/news/cloud-tech-etf-soars-32-year-to-date-managing-director-anthony-ginsberg-reveals-global-cloud-boom-934639950
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COMTEX_439162469/2655/2023-08-28T14:03:39
