Investing in funds that track the S&P 500 is no longer a broad bet on the U.S. economy because the five biggest tech companies have such outsized influence.
to create a benchmark index "designed to track the performance of emerging public companies primarily involved in providing cloud software to their customers."
Rather than reducing allocation to technology, Pagnato wants to provide greater access to companies and areas that aren't fully represented in the S&P 500.
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