Smith & Williamson is to launch an actively managed global thematic Artificial Intelligence (AI) Fund in June (subject to regulatory approval), enabling investors to gain exposure to those companies best placed to harness the transformational opportunities presented by AI.
Managed by former Pictet managers Chris Ford and Tim Day, the high-conviction global equity fund will offer investors access to a concentrated portfolio of companies that derive most or all of their revenues and growth from AI.
Managed from London, the Fund will aim to capture the full extent of the impact of AI on the broader global economy, extending beyond AI subsets such as robotics. Unconstrained by a benchmark, the Fund will be broadly diversified across economic sectors and global markets, holding around half of its positions outside the US.
Uniquely, 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 investable companies for the 30-35 stock portfolio.
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.
Subject to regulatory approval, the Fund will launch in June.
Ford says: “AI is powering the fastest growing areas in the global economy and companies are increasingly seeking to capitalise on the opportunities this brings. The influence of AI will continue to grow and it will not be limited to one sector of the economy or to one global region. The Smith & Williamson Artificial Intelligence Fund will seek to fully capture this opportunity by gaining exposure to the companies around the world which derive significant competitive advantages from their superior ability to harness AI.
“Embedding our own artificial intelligence into the Fund’s investment process is a demonstration of our conviction in AI’s utility and we are excited to leverage its power as we seek to identify the business models most successfully profiting from this transcendent technology.”
Ed Rosengarten, Head of Funds at Smith & Williamson, says: “The opportunity in artificial intelligence is compelling and in Chris and Tim we have a team with the expertise and track record to manage a thematic fund targeting the world’s leading AI-driven companies.
“As one of the leading global AI hubs, London is the ideal place from which to manage the Fund and we look forward to offering investors access to one of the most exciting structural growth opportunities in world equity markets today.”
Chris Duncan / Nick Paler - MRM
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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. 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 publication.
Notes to editors
Smith & Williamson is an independently owned professional and financial services group with over 1,700 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has twelve offices; these are in London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.
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