EU metaverse fund assets surge above $1 billion driven by AI excitement
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Amundi and Invesco, along with other asset managers, have seen a boost in assets due to the recent interest in AI and the subsequent rise in tech stocks. European metaverse-focused funds have reached a record high in assets.
Exclusive data shared with Financial News from Morningstar shows that European metaverse funds now oversee $1.1bn in assets as of the end of March, more than double the $403m from a year ago.
Amundi’s MSCI Digital Economy and Metaverse ESG Screened ETF is the largest fund of its kind in Europe, with $205m in assets, according to Morningstar. The fund, which includes Nvidia and Alphabet in its top holdings, has seen an 85% increase in assets since the end of 2022.
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