(Financial Times) Investors have poured record amounts of money into a fund that spreads its assets equally across the S&P 500, as concerns mount that Wall Street’s returns have become overly reliant on a handful of technology titans.
The Invesco S&P 500 Equal Weight exchange traded fund took in about $14.4bn in the second half of 2024, according to data from Morningstar, as investors hedged themselves against the dominance of big technology stocks.
The surge took total inflows for the fund to $17bn for the year and comes after consecutive years of the fund underperforming the S&P. Analysts said it underscored how investors were becoming concerned by the shadow cast by Magnificent Seven tech stocks — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla.
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