Wellington Management will expand in the UK by launching a fund focused on financial technology.
Wellington is a global asset management firm that manages £760bn of assets.
The Wellington Fintech fund will invest in companies that it thinks will benefit from innovations in financial technology.
The fund will be managed by Bruce Glazer, a technology fund manager, and will focus on businesses engaged in payments, lending, infrastructure and investing.
He said: "With the use of technology and data having become key drivers of success for financial companies, we see a compelling, multi-decade investment opportunity to capitalise on the value transfer from traditional financial to tech-enabled models."
Alan Steel, who runs Alan Steel Asset Management in Linlithgow, said he never invests in funds without meeting the manager, but added the fund might be "one to watch in this late investment cycle".
He added that investors needed to be cautious about very specialised funds.
The launch from Wellington comes in the wake of a range of other funds with a similar theme coming to the market.
These include funds launched by BNP Paribas and Robeco at the end of last year.
david.thorpe@ft.com
