After the success of Cathie Wood's Ark fund betting on disruptive technology last year, Goldman Sachs Group launched an actively managed equity fund that will bet on emerging technology companies.

Specifically, Goldman Sachs Group (Goldman Sachs) said on ThursdayGoldman Sachs Group's future technology leader stock ETF (Goldman Sachs Future Tech Leaders Equity ETF) will be launched to provide investors with an alternative to large US technology stocks.

The fund is actively managed.Generally invest in listed technology companies with a market capitalization of less than $100 billion, and focus on both developed and emerging markets.

Katie Koch, co-head of underlying equity at Goldman Sachs Group Asset Management, said: "the top 1 per cent of stocks in the S & P Goldman Sachs Asset Management account for nearly 1/4, and many investors overinvest in mature large US technology companies. "

"We believe that the dominant technology products in the next 10 years will be very different from the platforms we know today," Koch said. We are trying to find technology leaders with strong growth and huge return potential in the future. "

Goldman Sachs Group plans to invest in the fund with his clients, which began trading on the New York Stock Exchange on Thursday under the symbol GTEK. Sung Cho, portfolio manager at GTEK, said: "most of the innovations we have seen in technology over the past few decades have been concentrated in the US and centered on several companies. "

"but we believe we are at a critical turning point where technological innovation has spread to other regions and is spreading to companies with smaller market capitalizations. "

Among other technology stocks, Cathie Wood's ark investment company (Ark Investment) sold 81600 shares of electric car giant Tesla, Inc. (Tesla) on Wednesday, and Tesla, Inc. 's shares closed up 0.15% at $756.99 on Thursday.

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However, innovative technology companies, which were supported by the epidemic and the massive water release from the Federal Reserve last year, have not performed well this year. ARK Innovation, for example, is down nearly 5% year-to-date, while the s & p 500 is up 19% so far this year.

Economists expect the Fed to announce plans later this month to begin reducing monthly asset purchases, and officials will update their so-called "bitmap" of future interest rate forecasts, showing a faster-than-expected rate rise.

Andrew Sheets, chief cross-asset strategist at Morgan Stanley, believes these factors should push up Treasury yields and put pressure on US equities. All this is particularly bad for technology companies and growth stocks that rely on the value of future cash flows.

In the first phase of the 2020 epidemic, economic growth was strong thanks to the success of large information technology companies, while investors were attracted by familiar companies such as Apple Inc, Amazon.Com Inc and Facebook Inc. At the same time, financial and consumer essential stocks fell as investors worried about the impact of the crisis on consumers.

The situation changed rapidly in late 2020 and early 2021, when vaccines were introduced and countries reopened. Hard-hit value stocks have lagged far behind growth stocks, but they are starting to rebound. Value outperformed the peak during the epidemic blockade, boosted by a rebound in energy prices, reopening helped industrial companies, higher interest rates and higher levels of economic and trade activity, boosted by financial stocks.

Viraj Desai, senior portfolio manager at TD Ameritrade, said: "in addition, the inflation panic in mid-2021 has contributed to the underperformance of growth stocks, as future earnings premiums will be lower in an inflationary environment. That is why long-term fixed-income assets are starting to underperform, despite signs of a rebound in June and July. By mid-2021, the value of the sector was driven by the prospect of current earnings growth and the perception that inflation might have a lower impact on the industry. "

However, Desai also pointed out that the weak recovery caused by the Delta mutant virus could be a drag on value and restore the upward momentum of technology stocks. "one must not ignore the long-term prospects for growth and some of the major innovations currently taking place in growth stocks. Cautious investors will want to make sure they diversify between the two. "

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