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Strategies & Market Trends : CEF and ETF

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From: Julius Wong	4/9/2021 10:59:57 AM
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BlackRock captures largest ETF launch, securing $1.25 billion in first day of trading Apr. 09, 2021 10:30 AM ET Invesco Solar Portfolio ETF (TAN) By: Jason Capul, SA News Editor 3 Comments BlackRock has secured the largest ETF launch, with investors pouring in $1.25B into the funds newly created BlackRock U.S. Carbon Transition Readiness ETF (LCTU) on Thursday. LCTU seeks long-term capital appreciation by investing in large-and mid-capitalization U.S. equity securities that may be better positioned to benefit from the transition to a low-carbon economy. Per the Financial Times, Larry Fink, Chief Executive of BlackRock stated: “Winners and losers will emerge in every sector and industry based on each company’s ability to adapt and pivot their strategies and business models,” he continued with, “More and more capital is being allocated to sustainable strategies. These funds will enable investors to understand which companies are transitioning faster than others.” LCTU is hitting the market among the wave of green energy enthusiasts focused on investments that meet environmental, social, and governance standards. BlackRock's recently launched ETF comes with an expense ratio of 0.30% and holds four out of five FAANG names in its top five holdings with the exclusion of Netflix. LCTU does have holdings in Netflix, just not in the top five. See additional information on LCTU.

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