Smith & Williamson has launched its actively managed global thematic Artificial Intelligence (Ai) Fund.
The high-conviction, unconstrained equity fund, managed by former Pictet managers Chris Ford and Tim Day, offers investors pure exposure to a concentrated portfolio of companies that derive most, or all, of their revenues and growth from AI.
This Fund will explicitly seek purity of revenue exposure to those businesses globally benefitting from AI. At launch, it will have exposure to sectors including financial services, industrials, consumer services, and healthcare as well as a core of technology companies.
The Fund will itself use and benefit from AI being embedded within the investment process. This proprietary model will enhance the efficiency with which the managers can identify companies offering the best exposure to AI.
To mark the launch, Smith & Williamson is making the institutional share classes of the Fund - which have an annual management charge of 0.50% - available to all investors for an initial three month period, waiving the usual investment minimums for these classes during this period.
Chris Ford says: “AI systems sit at the nexus of several powerful and rapidly developing technologies, each of which have a critical role to play. Today, these systems are being deployed across the economy, bringing with them huge benefits.
“The Fund will explicitly look to offer purity of revenue exposure to those businesses benefitting most from AI. That is why, with wonderful examples of great AI technologies to be found all over the world, this Fund will be truly global and unconstrained by sector or geographic benchmarks.”
Ed Rosengarten, Head of Funds at Smith & Williamson, says: “Structural growth opportunities of this magnitude rarely arise and this is an exciting time to launch a fund with the team, process and resource required to identify, and invest, in those companies best placed to benefit from the inexorable rise of AI. We look forward to Chris and Tim leveraging their considerable expertise and proprietary model investment process with the aim of delivering attractive returns for our clients.”
The Fund is the first launch for Ford and Day since they joined Smith & Williamson in 2015, having previously co-led Pictet Asset Management’s Global Equities business in London. Ford has two decades of experience in North American and Global equity markets, specialising in the technology sector. Day has three decades of experience in North American and Global equities.
0207 131 4597
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
Notes to editors
Smith & Williamson is a leading financial and professional services firm providing a comprehensive range of investment management, tax, financial advisory and accountancy services to private clients and their business interests. The firm’s c1,800 people operate from a network of 11 offices: London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton. Smith & Williamson is part of The Tilney Smith & Williamson Group.
Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back, in total, the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice. Clients should always seek appropriate advice from their financial adviser before committing funds for investment. When investments are made in overseas securities, movements in exchange rates may have an effect on the value of that investment. The effect may be favourable or unfavourable.
Smith & Williamson Investment Management LLP is part of the Smith & Williamson group.
Smith & Williamson Investment Management LLP
Authorised and regulated by the Financial Conduct Authority