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The Invesco Metaverse Fund was formally introduced on Aug. 22 to a pan-European audience, according to Citywire Selector.
Invesco, a global investment management company, seeks to make investments in large, midsize, and small-cap firms through the fund, the report noted, while expanding investment exposure to the metaverse. The metaverse-focused equity fund aims to include companies across the segment from the regions of the US, Asia, and Europe. Fund to be benchmarked against global equity index The performance of the fund will reportedly be compared against the global equity index MSCI ACWI (Net Total Return), which represents about 85% of all investible equity opportunities globally. Tony Roberts as the fund manager, and James McDermottroe as the deputy fund manager, both of whom work for Invesco’s UK-based Asia & Emerging Markets equities team, will jointly manage the fund. Meanwhile, some media reports estimate the fund size to be around $30 million. However, Be[In]Crypto couldn’t verify the fund size at press time. By 2030, the market for virtual and augmented reality is expected to be worth £1.4 trillion (around $1.6 trillion), according to Roberts, who cited estimates by auditing giant PwC. He explained to Citywire, “While the metaverse’s applications to entertainment are increasingly well-understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education, and sport,” Full story here
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