Former Pictet fund managers are to manage a Smith & Williamson artificial intelligence fund that will itself use artificial intelligence.
Chris Ford and Tim Day will invest in between 30-35 companies out of a global selection which they believe are best placed to harness AI “transformational opportunities”.
The fund will itself use and benefit from AI being embedded within the investment process to enhance the efficiency with which the fund managers can identify investable companies, said the firm, which is to launch the fund in June.
Managed from London, the fund will be unconstrained by a benchmark, and hold around half of its positions outside the US.
It is the first fund that Ford and Day have launched since they joined Smith & Williamson. The 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.
Ford said: “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.”
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