“Cloud technology has barely penetrated the market so there is tremendous room to grow,” said Ben Rogoff, manager of funds including Polar Capital Technology Trust (PCT). “There are really only about five businesses in the world that can do this because it costs billions and is a question of scale. These companies are Amazon, Google, Microsoft and China’s Tencent.”
Although you can’t see it, the impact of cloud computing can be felt as more companies are utilizing the technology at a rapid pace to power their core businesses. That’s why Global X ETFs, the New York-based provider of exchange-traded funds, recently launched the Global X Cloud Computing ETF (Nasdaq: CLOU).
Seeking to track the Indxx Global Cloud Computing Index, the fund holds a basket of companies that potentially stand to benefit from continuing proliferation of cloud computing technology and services.
For more market trends, visit ETF Trends.
