Legal & General Investment Management (LGIM) has launched a thematic index fund focusing on robotics and automation.
The unlisted strategy, aimed at the UK retail market, offers exposure to investment opportunities through the increasing adoption of robotics and automation across all areas of society.
According to the London-based firm, the increasing adoption of sophisticated robots and automation, enhanced by artificial intelligence (AI), is “fast becoming an instrument of profound business and societal change”, with the robotics and automation sector experiencing rapid growth, expected to be worth $353 billion by 2024.
The fund tracks the ROBO Global Robotics and Automation Ucits index, giving investors access to the same strategy as LGIM’s Global Robotics and Automation ETF.
James Crossley, head of UK retail sales at, said: “Investors are increasingly turning to thematic investment strategies, both to access the opportunities created by the disruptive megatrends shaping our society, and to provide greater diversification in portfolios.”
The index tracked by the Legal & General Global Robotics and Automation Index Fund currently has 87 constituent companies across 14 countries and 12 proprietary subsectors.
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