HanETF’s cloud company-focused fund bounced back strongly in April as enforced remote working drove a surge in home-based internet activity.
“Clearly the move to remote working has boosted demand for cloud services globally - including video conferencing and telemedicine,” it said.
The HAN-GINS Cloud Technology UCITS ETF (LON:SKYY) jumped almost 12% over the month and Its NAV has rebounded to over US$9 per share, despite March being a difficult month, said the ETF provider.
For the 2020 year, losses are now below 2.5%, HanETF said.
“Over the past 12 months, SKYY has gained over 7% and has recovered almost all losses suffered during the 1st quarter due to the COVID-19 crisis” it said.
The performance has been boosted by some big technology names, with Amazon trading at close to its all-time high and Microsoft and Google also recovering well.
Other good performers included Citrix Systems (28%), Nvidia (12%), and Equinix (7.5%) while the biggest risers were Pareteum Corp with a 43% gain, 21 Vianet Group (31% gain) and Kingsoft Corp (a 25.9% gain).
SKYY tracks the Solactive Cloud Technology Index.