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DUBLIN - Global X ETFs ICAV, an investment fund based in Ireland, has announced enhancements to the index methodology of its Genomics & Biotechnology UCITS ETF, known by the ticker GNOM LN. The changes, made by the fund’s Index Provider, Solactive AG, aim to reflect evolving industry trends by expanding the fund’s thematic coverage.
The number of constituents in the index will increase from 40 to 50, with the addition of pre-revenue and diversified companies to the existing pure-play genomics firms. To prevent overconcentration, diversified companies will be capped at a collective 10% of the index weight, with individual weights not exceeding 2%. This adjustment is intended to maintain the index’s relevance and accuracy in representing the genomics and biotechnology sector.
The fund’s Supplement has been revised to include these Index Enhancements and is expected to be noted on or about May 9, 2025, pending approval from the Central Bank of Ireland. The updated Supplement will be available upon request from the ICAV’s registered office or from its local representative in any jurisdiction where the ICAV is registered for public distribution.
Investors with questions regarding the changes have been advised to contact their local agent or Global X ETFs directly, or to consult their investment consultant, tax adviser, or legal adviser as appropriate.
These changes reflect the dynamic nature of the genomics industry and the need for investment vehicles to adapt to shifting market dynamics. The fund’s adjustment is part of a broader trend in the investment world to ensure that thematic ETFs continue to provide targeted exposure to rapidly developing sectors.
The information provided in this article is based on a press release statement from Global X ETFs ICAV.
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