CATHAY Securities Investment Trust (Cathay SITE) announced April 2 the launch of Cathay Cyber Security Index ETF.
Being the very first of its kind, the ETF provides investors in Taiwan with a smart and simple way to track the performance of Nasdaq’s ISE Cyber Security Index, the underlyings of which are companies actively involved in providing cyber security technology and services.
Cyber security has become increasingly important as more and more corporates and individuals collect, process and store massive amounts of information, some of which are confidential, and transmit that data across networks.
After the World Health Organization’s declaration of the Covid-19 pandemic, there has been a huge increase in the number of global companies asking employees to work from home. With millions of workers signing in remotely to corporate networks, there is an increasing risk of cyber-attack.
As such, governments and corporates are increasing their spending rapidly on cyber security measures, and those who provide quality cyber security related services – such as protecting computers, networks, programs and data – tend to outperform the market.
Eddie Cheng, head of ETFs Team of Cathay SITE explains that the ETF is aimed at those investors who are interested in the cyber security sector but who are not able to invest directly in the global cyber security stocks.
Robert Hughes, vice president and head of Index and Advisory Services for Nasdaq Global Indexes says: “Our work with Cathay brings more innovative investment ideas to Taiwanese investors. Part of the mission of Nasdaq indexes is provide opportunity to access the untapped potential of growth, innovation and technology across the globe.”