Hantoo Asset Management "G2 Electric Vehicle & Autonomous Driving Active → Renamed to Global Autonomous Driving Active"

Korea Investment Trust Management announced on the 19th that it will change the name of the ACE G2 Electric Vehicle & Autonomous Driving Active Exchange-Traded Fund (ETF) to 'ACE Global Autonomous Driving Active ETF.' The new name will be applied starting from the 20th of this month.

The ACE Global Autonomous Driving Active ETF was launched in February 2022. It is characterized by investing in stocks directly related to autonomous driving and key value chain stocks that enable autonomous driving.

Regarding the reason for the name change, Hwang Woo-taek, head of the Global Equity Management Department at Korea Investment Trust Management, explained, “With the strengthened cooperation between the U.S. Donald Trump administration and Elon Musk, it is expected that the autonomous driving market industry will blossom. Autonomous driving is the key linked to future promising industries such as robotaxi, UAM, and robotics, so we decided to change the name to focus investment on the autonomous driving industry.”

As of the previous day, the major holdings of the ETF included △Tesla (13.12%) △NVIDIA (6.89%) △Alphabet (6.45%) △Mobileye Global (6.37%) △Palantir Technologies (5.85%) △Palo Alto Networks (5.83%), among others.

According to the Korea Exchange, the ACE Global Autonomous Driving Active ETF recorded a year-to-date return of 44.40%. This significantly outperformed the U.S. S&P 500 Index (23.11%) and the Nasdaq 100 Index (25.99%) during the same period. The ETF’s returns over the past 3 months, 6 months, and 1 year were 49.15%, 43.30%, and 49.88%, respectively.

Hwang stated, “After the name change, we will focus investment on the autonomous driving industry, investing not only in autonomous driving companies familiar to investors such as Tesla and NVIDIA but also in companies with value in the autonomous driving market, such as Ambarella, a specialist in AI semiconductors, and Mobileye, the leading company in advanced driver-assistance systems (ADAS).”

He added, “In conclusion, this ETF is a product that can invest across the entire industry, from autonomous driving chips to various infrastructures, as well as the final user industries of autonomous driving technology.”

This content was produced with the assistance of AI translation services.