Automation is at the center of a lot business processes for companies looking to enhance their efficiency. As more companies in the Nordic region adopt this growing trend, one ETF to keep an eye on is the Global X FTSE Nordic Region ETF (GXF).
“Large enterprises in the Nordics have been implementing business process automation over the last three years, and more organizations now see the urgency of adopting these technologies to stay competitive as COVID-19 strains the regional economy, according to a new report published today by Information Services Group (ISG), a leading global technology research and advisory firm,” a Businesswire press release noted.
GXF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE Nordic 30 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs) based on the securities in the underlying index.
The underlying index is designed to reflect the equity market performance of companies in Sweden, Denmark, Norway, and Finland. The fund’s expense ratio comes in at 0.51%.
“GXF offers investors exposure to the Nordic region of Europe by investing in securities that trade on the national stock exchanges of the four Nordic countries of Sweden Denmark, Norway, and Finland,” an ETF Database analysis said. “Since many of the large caps in this fund are likely to be found in other EFA holdings, the fund is not appropriate for investors seeking broad diversification across Europe.”
“For investors looking for high levels of exposure to the Nordic markets in particular, GXF is probably the best ‘pure play’ option available,” the analysis added.
Early Adopters Benefiting
In early goings of a business cycle, early adopters benefit the most from emerging technologies. GXF companies are reaping the rewards of an agile approach.
The press release noted that “Nordics finds banking, financial services and insurance companies have led the region in adopting business process automation, seeking higher productivity, cost savings and improved customer experience. Manufacturing, retail and other sectors are also embracing the technologies, which include conversational AI, natural-language processing and AI for IT operations (AIOps).”
“Early adopters of automation in the Nordics are stepping up digital transformation to gain an advantage when they need it most,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “We are seeing a majority of service provider customers increasing their automation spending, not despite the economy, but because of it.”
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