Tortoise announced the launch of two digital infrastructure ETFs, Tortoise Cloud Infrastructure Fund and Tortoise Digital Payments Infrastructure Fund.
Tortoise invests in essential assets across the infrastructure spectrum. These are assets that are indispensable to the economy and society. Digital infrastructure is the backbone of the digital revolution, including everything that transfers, stores and processes digital information. TCLD and TPAY isolate what Tortoise believes are the fastest areas of growth in technology, that are also essential assets.
Digital infrastructure is essential to our everyday lives, said Matt Weglarz, Tortoise portfolio manager of passive investment strategies. As the world economy becomes increasingly reliant on instant, mobile payments and flexible, efficient and lower-cost technology, we believe these two products offer investors access to participate in this potential growth.
Tortoise offers passively managed products based on actively researched indices. Tortoises full suite of indices are designed to fill market voids across the essential assets universe.
Tortoise Cloud Infrastructure Fund is an exchange-traded fund designed to track the Tortoise Global Cloud Infrastructure Index„ , which represents the existing global cloud infrastructure landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the cloud infrastructure industry, including cloud systems/services, cloud management software, cloud hosting, cloud security, cloud hardware and cloud data centers.
Tortoise Digital Payments Infrastructure Fund is an exchange-traded fund designed to track the Tortoise Global Digital Payments Infrastructure Index„ , which represents the existing global digital payments landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in digital payments, including merchant processing and settlement, real time record keeping, settlement networks, and Fintech products/services that facilitate the ease, efficiency, and speed of electronic transactions. This includes companies whose primary business is comprised of one or a combination of the following categories: credit card networks, electronic transaction processing and associated products/services, credit card issuers, electronic transaction processing software (payments Fintech) or online financial services marketplaces.
Tortoise invests in essential assets “ those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities.