By Hyunjin Choi
Qraft Technologies, a member company of the Born2Global Centre, took part in “Closing Bell Ceremony” at the New York Stock Exchange on July 11. The New York Stock Exchange hung the national flag of South Korea on the outside wall of the NYSE and welcomed Qraft Technologies. The executives of Qraft Technologies rang the closing bell at NYSE to celebrate its recent launch of AI-powered ETFs(Exchange Traded Fund) in May. Qraft Technologies listed two exchange funds that are applied with AI and Deep machine learning technology: Qraft AI-Enhanced U.S Large-Cap ETF (NYSE Arca: QRFT) and Qraft AI-Enhanced U.S. Large Cap Momentum ETF (NYSE Arca: AMOM).
While S&P500 is a capitalization-weighted index, QRFT builds an investment portfolio by managing US large caps with five factors: quality, value, size, low risk and momentum, and AMON for only momentum factor holding a more focused portfolio of 50 stocks in mostly tech field. Using Deep learning technology, AI-powered ETF improvises quantitative investment strategies with a massive amount of data and helps investors to grab opportunities for higher returns. For a month since its launch in May, it already shows meaningful results. QRFT shows 3.25% increase while S&P500 is up only 2.17%. AMON outperformed S&P500 of 1.88% with the increase of 4.05%. Also, AI-enhanced ETF index is corresponding to that of S&P500. “We had over twenty top-notch finance and computer engineers in the development of the AI products, all of whom are from Korea” says Hyung-Sik Kim, CEO at Qraft Technologies with the pride of its proprietary technology.