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Global X launches cloud computing ETF

Global X ETFs, a New York-based provider of exchange-traded funds, has launched the 14th fund in its Thematic Growth suite, the Global X Cloud Computing ETF (CLOU). CLOU seeks to track the Indxx Global Cloud Computing Index, and  holds a basket of companies that potentially stand to benefit from continuing proliferation of cloud computing technology and services. The cloud computing industry refers to companies that (i) license and deliver software over the internet on a subscription basis (SaaS), (ii) provide a platform for creating software applications which are delivered over the internet (PaaS), (iii) provide virtualised computing infrastructure over the internet (IaaS), (iv) own and manage facilities customers use to store data and servers, including data centre Real Estate Investment Trusts (REITs), and/or (v) manufacture or distribute infrastructure and/or hardware components used in cloud and edge computing activities.The increasingly digital and connected world that form the backdrop for CLOU’s launch is exhibiting significant growth, and is expected to continue to grow over the coming years. The cloud computing industry that was estimated to be worth USD188 billion in 2018 is expected to be worth over $300 billion by 2022, a nearly 15% annualised growth rate.1 As storage and computing costs continue to shrink, adoption of cloud computing solutions is likely to continue to grow.“With cloud computing, we’re witnessing a wide-ranging disruption of traditional IT infrastructure,” says Michael Hoffmann, research analyst at Global X. “The substantial increases in efficiency and power accessible through cloud-based technology is the backbone for enterprise IT, social media, and streaming platforms, and should continue to support the development of the most exciting technologies of our time, like artificial intelligence and the Internet of Things. We’re thrilled to offer investors and clients a tool like CLOU to access this theme, and we’re excited to continue to watch this space evolve.”

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