KraneShares Electric Vehicles & Future Mobility ETF Adopts Bloomberg Thematic Index
Krane Funds Advisors, LLC, a global asset management firm known for its China-focused exchange-traded funds (ETFs) and innovative China investment strategies, announced that the KraneShares Electric Vehicles & Future Mobility ETF now tracks the Bloomberg Electric Vehicles Index. KARS currently has over $200 million in assets under management (AUM). The Bloomberg Electric Vehicles Index is Bloomberg Index Services’ first-ever thematic equity index.
Bloomberg is a leader in indexing and financial data services. The Bloomberg Electric Vehicles Index encompasses the entire electric vehicles ecosystem, including car manufacturers, battery makers, raw materials, vehicle connectivity suppliers, alternative renewable energy sources including hydrogen, and more.
The Bloomberg Electric Vehicles Index is constructed through a rigorous basket identification process powered by Bloomberg Intelligence (BI), which includes over 350 research professionals. The index construction process employs both quantitative and qualitative analysis as well as research from Bloomberg New Energy Finance (BNEF) in an attempt to build the best possible representation of the electric vehicles industry. The index is reevaluated on a quarterly basis.
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“We are proud to become the first asset manager to track a Bloomberg thematic equity index through our KARS ETF,” said Jonathan Krane. “We have partnered with Bloomberg in the past on fixed income funds. Due to Bloomberg’s strong equity research capabilities, we believe their index is the best suited to capture the complex and rapidly changing electric vehicles industry.”
“With the launch of our global equity benchmarks, we are meeting demand for thematic indices that are backed by independent research and driven off transparent processes,” said Alan Campbell, Head of Product Management for Bloomberg’s Multi-Asset Index business. “Integrated with Bloomberg’s data and distribution channels, our thematic indices are positioned to be leading benchmarks for ETFs and we’re proud that KraneShares has adopted our electric vehicles index for KARS.”