The Old Thematic Growth Playbook Is Slowing
Historically, thematic providers grew by finding an emerging investment theme and launching first. Today, existing products often remain standalone, genuinely new themes are harder to find, and successful ideas attract competing products quickly.
01Thematic Ecosystems Are Disconnected
Thematic indices are often launched as standalone products, with no connectivity to other products within the thematic ecosystem. This creates a higher risk that AUM leaves the provider’s ecosystem rather than moving within the thematic family.
02New Themes Are Harder to Find
As thematic lineups mature, identifying genuinely new, differentiated, and investable themes becomes increasingly difficult.
03Successful Ideas Attract Competition Quickly
When a theme captures investor attention, competing products can enter quickly, reducing the commercial advantage of launching first.