NEW YORK, Oct. 28, 2021 /PRNewswire/ -- Today, Fount Investment Co., Ltd. launched two new thematic ETFs: the Fount Metaverse ETF (MVTR) and the Fount Subscription Economy ETF (SUBS). MVTR looks to provide exposure to companies related to metaverse technology. SUBS seeks to provide exposure to companies offering subscription services.
The metaverse and subscription services are two rapidly growing markets. The metaverse, even with all the groundbreaking developments in technology, has yet to reach its full potential to be the future iteration of the existing internet. Bloomberg estimates that the market size of the metaverse may reach $800 billion by 2024. Additionally, a significant amount of consumers are transitioning from an ownership to a usership model. 78% of adults worldwide utilize subscription services, and 75% believe that, in the future, they will subscribe to more services and own less physical stuff.
"We believe that new technologies are creating seismic changes in the ways that individuals interact with the world around them, melding the digital and real world, and changing the way that products and services are consumed," said Mr. Young-Been Kim, Chairman of Fount. "We believe our new ETFs provide investors with an attractive vehicle to gain exposure to these technologies."
The Fount Metaverse ETF (MVTR) seeks to provide results that, before fees and expenses, correspond generally to the total return performance of the Fount Metaverse Index, which was designed to provide exposure to companies that develop, manufacture, distribute, or sell products related to metaverse technology.
The Fount Subscription Economy ETF (SUBS) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Fount Subscription Economy Index, which provides exposure to companies engaged in the business of providing subscription services.
"We are excited to work with Fount to bring these ETFs to market," said J. Garrett Stevens, CEO of Exchange Traded Concepts, the advisor to the fund. "These funds complement ETC's strategy of looking to provide investors with new thematics which we believe have the potential to disrupt the status quo."
About Fount Investment Co., Ltd.
Founded in 2015, Fount is the leading Robo-Advisor (RA) FinTech company in Korea that specializes in the use of AI to expand the asset management industry. Through the utilization of AI and asset allocation algorithms, Fount offers services appealing to the next generation of investors.
1 Investing in the Metaverse, Bloomberg Intelligence, 7/1/21
2 The End of Ownership, Subscribed Institute, 2020
Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's full or summary prospectus, which may be obtained by visiting www.fountetfs.com. Read it carefully before investing or sending money.
Investing involves risk, including possible loss of principal. There is no guarantee the Funds will achieve their stated objectives. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. The Funds' concentration in an industry or sector can increase the impact of, and potential losses associated with, the risks from investing in those industries/sectors. The Funds are non-diversified. The Funds are new and have limited operating histories for investors to evaluate. New and smaller funds may not attract sufficient assets to achieve investment and trading efficiencies. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility.
Exchange Traded Concepts, LLC. serves as the investment advisor to the Funds. The Funds are distributed by SEI Investments Distribution Co., (SIDCO). SIDCO is not affiliated with Exchange Traded Concepts, LLC. or Fount Investment Co. Ltd.
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SOURCE Fount Investment Co., Ltd.