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Cloud technology's position to be bolstered by coroanvirus lockdown, suggests HANetf

“Ultimately, the economic downturn has shown far less computer expenditure on hardware, while cloud budgets have continued to grow."

HANetf -

Cloud technology companies will be among the major gainers from enforced homeworking during coronavirus, according to ETF specialist HANetf.

The company’s HAN-GINs Cloud Technology UCITS ETF (SKYY) tracks the Solactive Cloud Technology Index, which gives access to service providers, hardware companies and cloud-focused software groups.

Anthony Ginsberg, the Co-Creator of the SKYY ETF, said cloud technology remains the leading tech beneficiary from the Coronavirus crisis.

Working from home and many of the remote behaviours will remain permanent fixtures long after the pandemic has passed, he believes, with growth set to accelerate.

Ginsberg notes that companies continue to scale up their cloud usage and reduce their onsite hardware costs and this surge in activity is likely to spark M&A deals.

SKYY grew by 6.74% in May, almost 12% in April and has increased in value by 26.7% over the last 12 months.

Ginsberg, said: “Ultimately, the economic downturn has shown far less computer expenditure on hardware, while cloud budgets have continued to grow.

“The use of cloud technology means enterprises now require fewer IT staff and hardware servers to be physically present on their premises as companies increasingly use remote servers and related third-party IT functions.”

SKYY is listed on the LSE, XETRA, SIX and Borsa Italiana,

Quick facts: HAN-GINS Cloud Technology UCITS ETF

Price: 11.48 USD

LSE:SKYY
Market: LSE
Market Cap: $27.55 m
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