Global Financial Ecosystem Theme

This smallcase gives you exposure to the financial ecosystem across the entire value chain - from banks that provide credit, to companies that help investors access and trade in markets and digital platforms that make financial services easier to use. As more people save, invest and participate in financial markets, these businesses can benefit from the growth of the overall financial system. The portfolio invests across four key segments of this ecosystem:

• Banks: the foundation of the financial system - from large US banks to globally important financial institutions. Anchors the portfolio with established banking businesses that operate at scale.
• Capital Markets: investment banks, brokers, exchanges and asset managers - the infrastructure behind trading and investing. Adds exposure to growing participation in financial markets.
• Payment & Fintech: digital platforms changing how people borrow, invest and manage money. Adds exposure to financial services as more activity moves online.
• Private Markets: private equity and alternative asset managers that invest outside traditional public markets. Adds exposure to the growing role of private capital in financing businesses.

Together, these segments cover the financial ecosystem end-to-end, from traditional banking and capital markets to digital finance.