Equities  

Smith & Williamson launches AI fund

Smith & Williamson launches AI fund

Smith & Williamson is to launch a fund investing in companies that capitalise on the growth of artificial intelligence (AI).

The global equity AI fund will be run by former Pictet managers Chris Ford and Tim Day.

S&W said the strategy would aim to "capture the the impact of artificial intelligence on the broader global economy, extending beyond artificial intelligence subsets such as robotics".

The team will also use AI as part of their selection process and will hold between 30-35 stocks.

Mr Ford and Mr Day joined Smith & Williamson in 2015, having previously led Pictet's global equities business in London.

The launch, which is set for June subject to regulatory approval, continues a trend of asset managers turning attention to the space.

Earlier this year Allianz Global Investors launched an artificial intelligence-focused fund. Others have launched funds in related spaces, such as robotics.

Charges for the new fund were not disclosed.