eToro has recently announced that it has expanded its investment offering by launching a new cloud computing portfolio, which provides its customers with access to investment opportunities in tech companies across the world.
In particular, the cloud computing portfolio launched by the multi-asset investment platform provides retail investors with exposure to more than 30 companies in sectors that are vital in driving the growth of cloud services.
According to the statement released by eToro on Monday, the companies that are in the portfolio range from software as a service, healthcare, hardware, interactive media and infrastructure.
The term cloud computing is generally used to describe data centres available to many users over the Internet. Cloud computing underpins many technologies that are used in everyday life, such as email, video streaming and social media.
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In order to get exposure to the cloud computing portfolio, retail investors need to invest a minimum of $1,000. Hence, making up the portfolio are both major tech players, with cloud as a revenue contributor, as well as companies that have cloud computing as their core business. Notably, Google, IBM, Alibaba Group Holdings, Workday Inc, Twilo and VMWare are among the included companies.
eToro to Capitalise on Cloud Computing Sector Growth
With the coronavirus pandemic forcing the world into lockdown, cloud services have become increasingly important for companies and individuals around the globe. According to eToro, the sector is expected to grow by 17 per cent worldwide this year, as a result of the lockdown measures. Over the next five years, analysts forecast that this growth will continue, targeting a 14 per cent growth each year for the sector.
Commenting on the launch, Dani Brinker, head of portfolio investment at eToro, said in the statement: “Many of us rely daily on cloud computing services, whether that’s to speak to friends, stream movies or work from home. This technology has quietly revolutionised our lives, with some experts suggesting it’s already as important as utilities including electricity, gas and water.
“And it’s only just getting started! Cloud computing is vital for many emerging technologies that are set to have a profound influence on the world, including self-driving cars, artificial intelligence and remote working.
“eToro is on a mission to simplify investing, making markets accessible and transparent. Our growing range of thematic portfolios enable people to invest in ideas they understand and use daily, such as digital retail, food tech and now, cloud computing.”