The Allianz Global Artificial Intelligence equity fund has passed the EUR 1bn bar in assets under management, reflecting both retail and institutional investors’ strong interest in this strategy.
The fund, from one of the world’s leading active investment managers, AllianzGI, was the first of its kind when it launched in Europe in March 2017. The AI fund has a remit to invest in companies pushing forward the development of Artificial Intelligence (AI) in all its forms around the world.
Unlike existing technology funds, the Allianz Global AI fund is specifically designed to benefit from AI’s disruptive potential. The goal of the Allianz Global Artificial Intelligence Fund is to navigate the changes ushered in by this transformative technology and invest in the companies which are best positioned to deliver outsized shareholder value creation.
By analysing this potential and integrating those companies that will drive and benefit from it directly into the portfolio, the strategy aims to harness dynamic, sustainable growth that will cut across the market.
Commenting on the fund hitting the EUR1bn bar, Sebastian Thomas, Senior Portfolio Manager, said:
“We are pleased with the interest investors have shown in the Global Artificial Intelligence Fund. We believe artificial intelligence is a transformative technology that has the potential to reshape the global economy and disrupt existing industry structures.
“Our strategy looks to invest across all sectors and around the globe for innovative companies developing or leveraging AI technology and is not managed to a typical technology index that is heavily weighted to mega cap tech stocks. The fund usually has above 75% active share versus most global tech funds.
“We are just scratching the surface of what AI can achieve and seeing an accelerating pace of innovation. We believe the impacts will compound over the years to come as AI becomes even more woven into the fabric of our lives.”
The Allianz Global AI fund is an expansion of a strategy which was launched in Japan on September 9, 2016 in partnership with Sumitomo Mitsui Asset Management and Nikko. In total, the strategy has more than US$S4 billion of assets globally.