Smith & Williamson launches Artificial Intelligence fund

Smith & Williamson has launched a new actively managed global thematic Artificial Intelligence (AI) fund. The fund is a high-conviction, unconstrained equity fund, managed by former Pictet managers Chris Ford and Tim Day. It aims to offer investors pure exposure to a concentrated portfolio of companies that derive most, or all, of their revenues and growth from AI, the company said in a statement announcing the launch. At launch, it will have exposure to sectors including financial services, industrials, consumer services, and healthcare as well as a core of technology companies. The fund will itself “use and benefit” from AI being embedded within the investment process, Smith & Williamson said. To mark the launch, the company making the institutional share classes of the fund – which have an annual management charge of 0.50% – available to all investors for an initial three month period, waiving the usual investment minimums for these classes during this period. AI systems “AI systems sit at the nexus of several powerful and rapidly developing technologies, each of which have a critical role to play. Today, these systems are being deployed across the economy, bringing with them huge benefits,” Ford said. “The fund will explicitly look to offer…

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