Boutique investment house Polar Capital is to launch a robotics fund, with two of the managers who run the high-performing Polar Capital Technology Trust at the helm.
Nick Evans, Ben Rogoff and Xuesong Zhao will manage the new Polar Capital Automation and Artificial Intelligence fund.
Mr Rogoff and Mr Evans have managed the £1.3bn Polar Capital Technology Trust for a decade, during which time it has returned 371 per cent, compared with 250 per cent for the average trust in the AIC Technology Media and Telecoms sector in the same time period.
Mr Rogoff said: “We are launching this fund because we see a tremendous opportunity to add value across a wider range of sectors than our current mandates allow and to leverage the passion and knowledge of our team.
"We have been investing in robotics companies for many years and have growing artificial intelligence exposure – these areas form two of our eight core secular growth themes.”
He said the new fund will be able to invest in companies that are the beneficiaries of robotics, and not just the robotics companies themselves.
The fund will invest in four themes, industrial automation, artificial intelligence, robotics and advanced materials.
Adrian Lowcock, investment director at Architas, said demand from investors to invest in “next stage” technology has been strong in recent years, with other robotics funds in the sector having assets of £2bn.
Of this fund Mr Lowcock said: “The polar capital team are well respected and experienced technology investors.
"Specialist funds in the technology space are proving hugely popular and there does not seem to be a lack of opportunities, indeed if anything the potential for technology is still set to grow as it moves into new areas.
"Such a fund should only form a niche holding within any portfolio because of the specialist nature and higher risk profile of the fund.
"Whilst valuations of the largest tech companies are high there are plenty of smaller tech companies with potential. This fund provides a route in for investors wanting to access the next wave of technology companies and the growth potential they offer.”
david.thorpe@ft.com
