{
  "id": 5022796,
  "title": "Behind the Ticker: Capturing Innovation Long-Term With FRWD",
  "url": "https://urgent.news/2026/08/31/behind-the-ticker-capturing-innovation-long-term-with-frwd",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T18:28:29.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/behind-ticker-capturing-innovation-long-182829522.html"
  },
  "original_language": "en",
  "account": "Innovation investing is a long-term focus for Nomura Asset Management, as demonstrated by the Nomura Transformational Technologies ETF (FRWD). Anthony Caruso, Head of Product Strategy & ETFs at Nomura, explained the fund's approach in an interview with Brad Roth on Behind the Ticker. FRWD, launched earlier this year, has already amassed over $275 million in assets under management. The firm, with a century-long history in both Japan and the U.S., recently expanded into ETFs and currently manages around $1 billion in U.S. assets across nine funds. FRWD started as a separately managed account in 2018 before transitioning to an ETF in January. The strategy focuses on key long-term secular trends and narrows down to a concentrated portfolio of around 25 stocks, making up about 57% of the fund's holdings. This concentrated approach has outperformed the Nasdaq-100 by approximately 200% since its inception in 2018. Caruso argues that thematic investing should be a core growth holding, not just a tactical satellite position, comparing it to building a lineup around Babe Ruth. With low turnover, a 65 basis point fee, and volatility viewed as an opportunity, FRWD has grown to about $260 million in just six months. FRWD is part of Nomura's broader ETF push, which has crossed a billion dollars in total assets, including a successful emerging markets fund and a high-yield muni strategy. Nomura is positioning itself as a significant player in the U.S. thematic and active ETF space.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}