German investment technology platform BITA has launched a remote economy index which looks to capture the shift in behaviour since the coronavirus outbreak earlier this year.

The BITA Remote Economy Giants index offers exposure to 20 US headquartered companies that derive 80% of their revenue from a number of remote services.

These include videoconferencing, online food delivery services, online gaming, telemedicine, entertainment streaming services and e-retailing.

The index is weighted by free-float market capitalisation and rebalances quarterly.

The top five holdings, which are eBay, Electronic Arts, Netflix, Amazon and Activision Blizzard, account for 49.3% of the index.

Victor Hugo Gomez (pictured), founder and CEO of BITA, commented: “Since the outbreak of COVID-19, a large portion of the global population has been forced to change their routines and lifestyle, shifting towards the remote management of a big part of their daily activities.

“Companies focused on the provision of technology-driven remote services have benefitted greatly.”

According to data from BITA, the remote economy giants index has outperformed the S&P 500 by 39% this year returning 23.5%, as of 27 April.

There have been signs investors are looking to take advantage of the shift in behaviour. Last week, the VanEck Video Gaming and eSports UCITS ETF (ESPO) broke through the €100m barrier for the first time as investors looked to capture the increase in digital gaming.

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