Tech Investment Gets Brand New ASX Index

The ASX has launched the S&P/ASX All Technology Index, which tracks 46 securities related to the burgeoning tech market in Australia.

Investors in the Australian market are getting a brand new opportunity thanks to the critical launch of an index covering the technology sector.

On Monday (February 24), the Australian Securities Exchange (ASX) saw the official debut of the S&P/ASX All Technology Index (XTX). The index was launched through an official partnership between the ASX and S&P Dow Jones Indices.

According to the exchange, the index tracks 46 Australian firms in the country’s tech space and is intended to be a new standard bearer for investors looking for company picks.

Dominic Stevens, CEO and managing director of the ASX, credited the launch of the index to the “tremendous growth” seen in the tech space over the past three years.

The executive indicated that if it had existed during that timeframe, the new index’s total returns would have outpaced the S&P/ASX 200 (INDEXASX:XJO) by over 10 percent.

“The All Tech Index recognises the critical mass of technology companies listed on ASX. It provides investors with an opportunity to see how the sector is tracking and gives them a benchmark to measure its performance,” Stevens said.

On its first day of trading, the index closed at 2,018.6 points, representing a slide of 4.12 percent. The fund held a combined market capitalisation of over AU$100 billion as of its trading debut.

The ASX executive added that a wide selection of the companies featured in the new index began their journeys as small-cap names and are now recognized as firms with billion-dollar valuations.

“A vibrant technology sector is also good for Australia,” said Stevens. “It helps drive economic growth, strengthens the relevance of our capital markets and encourages job creation and innovation onshore.”

According to the exchange, the index’s top holdings as of launch were:

  • Xero (ASX:XRO)
  • Computershare (ASX:CPU)
  • Afterpay (ASX:APT)
  • REA Group (ASX:REA)
  • Altium (ASX:ALU)
  • Carsales.com (ASX:CAR)
  • WiseTech Global (ASX:WTC)
  • Link Administration Holdings (ASX:LNK)
  • NEXTDC (ASX:NXT)
  • Appen (ASX:APX)

Don’t forget to follow us @INN_Australia for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Featured
Global News

Investing in Australia: Rich in Resources     Table of Contents Bitcoin Investing in Australia How to Buy Bitcoin in Australia Cryptocurrency Regulations in Australia   Bitcoin Investing in Australia Bitcoin is experiencing hype as its price continues to ride high, and Aussie investors are looking closer at ways to invest in cryptocurrencies. Debuting in …

Download Your FREE 2022 Tech Outlook Report

WHAT'S IN STORE FOR TECH IN 2022?

The Investing News Network (INN) spoke with analysts, market watchers and insiders about which trends will impact this sector in the year ahead.

✓ Trends   ✓ Forecasts    ✓ Top Stocks


read more Show less

The novel multi-media campaign, created in partnership with RGA, is built on the concept that consumers can Zip everything around them and pay in four installments Following its global rebrand this summer, digital payment pioneer Zip Co Limited today revealed a new multi-million dollar brand campaign – ‘Zip Now, Pay Later’ – across the U.S., to attract new customers to merchants ahead of the holiday shopping …

The novel multi-media campaign, created in partnership with R/GA, is built on the concept that consumers can Zip everything around them and pay in four installments

Following its global rebrand this summer, digital payment pioneer Zip Co Limited ( ASX: Z1P ) today revealed a new multi-million dollar brand campaign – ‘Zip Now, Pay Later’ – across the U.S., to attract new customers to merchants ahead of the holiday shopping season. From TikTok dance challenges to ‘earworms’ stuck in our heads and glam tips for Zoom calls, ‘Zip Now, Pay Later’ spotlights meme-worthy moments that have captivated millions, all demonstrating that Zip is not only part of the same cultural zeitgeist, but also the payment option of choice for modern consumers who are increasingly shunning credit cards for flexible, transparent digital payment options everywhere they shop.

read more Show less

General Manager Matt Herbert described Ontario as an “undiscovered gem,” and spoke about the company’s work on its lithium projects in the province.


After making its ASX debut this past November, Green Technology Metals (ASX:GT1) has been hard at work in Ontario, Canada, where it holds three projects covering 35,000 hectares.

Speaking to the Investing News Network at the Prospectors & Developers Association of Canada (PDAC) convention, General Manager Matt Herbert described the province as an “undiscovered gem” with the potential to contribute to the lithium supply chain in an environmentally conscious manner.

“I think the opportunity there is to create some very, very green lithium,” he said.


“At the moment, a lot of lithium is mined in Western Australia, (then) shipped to China for processing; from China it goes to European battery markets. I think by the time that lithium arrives where it’s supposed to arrive it’s left itself a bit of a carbon footprint,” Herbert explained during the conversation. “We have a real opportunity here to leverage low-carbon lithium in a place that is really screaming for security.”

Green Technology Metals has already seen support from members of the Ontario government, including recently re-elected Premier Doug Ford, and Greg Rickford, who is the province’s minister of northern development, mines, natural resources and forestry, as well as its minister of indigenous affairs.

“Both are massive supporters of critical minerals,” said Herbert. “Those things are important when you’re at the permitting and approval stage, and that’s exactly where we’re at. We’re able to leverage those relationships really well, and there’s just no better place to be at the moment.”

Watch the interview above for more from Herbert on Green Technology Metals and its plans for the next six months. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Green Technology Metals is a client of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

electric vehicle charging
Blue Planet Studio / Shutterstock

General Manager Matt Herbert described Ontario as an "undiscovered gem," and spoke about the company's work on its lithium projects in the province.

Green Technology Metals: Cashed Up and Pursuing Low-carbon Lithium in Ontario youtu.be

After making its ASX debut this past November, Green Technology Metals (ASX:GT1) has been hard at work in Ontario, Canada, where it holds three projects covering 35,000 hectares.

Speaking to the Investing News Network at the Prospectors & Developers Association of Canada (PDAC) convention, General Manager Matt Herbert described the province as an "undiscovered gem" with the potential to contribute to the lithium supply chain in an environmentally conscious manner.

"I think the opportunity there is to create some very, very green lithium," he said.


"At the moment, a lot of lithium is mined in Western Australia, (then) shipped to China for processing; from China it goes to European battery markets. I think by the time that lithium arrives where it's supposed to arrive it's left itself a bit of a carbon footprint," Herbert explained during the conversation. "We have a real opportunity here to leverage low-carbon lithium in a place that is really screaming for security."

Green Technology Metals has already seen support from members of the Ontario government, including recently re-elected Premier Doug Ford, and Greg Rickford, who is the province's minister of northern development, mines, natural resources and forestry, as well as its minister of indigenous affairs.

"Both are massive supporters of critical minerals," Herbert said. "Those things are important when you're at the permitting and approval stage, and that's exactly where we're at. We're able to leverage those relationships really well, and there's just no better place to be at the moment."

Watch the interview above for more from Herbert on Green Technology Metals and its plans for the next six months. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Green Technology Metals is a client of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

GT1:AU

Top News

Global News

×