US Global Investors announces Merger of Europe-Domiciled Airlines ETF into the Travel UCITS ETF
–News Direct–
U.S. Global Investors CEO Frank Holmes joined Steve Darling from Proactive to share an update on the company's Europe-domiciled airlines ETF, the U.S. Global Jets UCITS ETF, which has undergone a merger into the Travel UCITS ETF (TRIP). U.S. Global Investors acquired TRIP from HANetf, a leading provider of UCITS ETFs in Europe. It's important to note that TRIP is distinct from the U.S. online booking company TripAdvisor, which trades under the same ticker symbol (TRIP) on the Nasdaq.
Holmes explained that TRIP aims to track the Solactive Travel Index, which includes publicly-listed companies operating in the travel industry, such as airlines, hotels, travel agencies, and cruise lines. The inclusion of cruise lines in TRIP reflects the broader global travel investment theme, making it a strategic addition to U.S. Global Investors' product lineup.
According to data from the Cruise Lines International Association (CLIA), global cruise passenger volumes increased by nearly 7% from 2019 to 2023, with North America experiencing the strongest growth at 17.5%. This surge in demand for leisure travel has translated into higher revenues for cruise lines. In 2023, industry giants Carnival, Royal Caribbean, and Norwegian Cruise Line Holdings collectively reported approximately $44 billion in trailing 12-month net sales, up from $38.2 billion in pre-pandemic 2019.
The merger of U.S. Global Jets UCITS ETF into TRIP reflects the company's strategic approach to capturing opportunities in the evolving travel industry landscape, driven by increasing consumer demand and recovery from the pandemic's impact.
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View source version on newsdirect.com: https://newsdirect.com/news/us-global-investors-announces-merger-of-europe-domiciled-airlines-etf-into-the-travel-ucits-etf-120059927
U.S. Global Investors
COMTEX_451400886/2655/2024-04-25T10:01:23
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