AllianzGI launches Europe’s first global AI fund
AllianzGI launched the Allainz Global Artificial Intelligence equity fund. The new fund is the first of its kind in Europe and will be available to both retail and institutional investors.
AllianzGI’s new fund has a remit to invest in companies pushing forward the development of AI in all its forms around the world. With the AI market expected to grow to $36.8bn by 2025, the fund will benefit from rapid advancements in a range of areas, including big data analysis, machine learning, self-driving cars and the internet of things.
The Allianz global AI fund is an expansion of a strategy which launched in Japan on September 9, 2016 in partnership with Sumitomo Mitsui AM and Nikko. However, this is the first time the strategy will be open to European investors. In its current form, the strategy currently has $1.8bn AUM.
The fund will be managed by Sebastian Thomas, portfolio manager and director, US head of technology research. Sebastian joined AllianzGI in 2003 as a senior analyst covering software and internet companies, and has over ten years’ experience managing global technology portfolios. The AllianzGI technology team currently runs over $7.2bn in tech-focused portfolios.
Sebastian Thomas said, “we are a real pioneer in this space and, having seen such strong initial demand in Japan, I am very pleased to be bringing the strategy to a wider audience. We are now at an inflection point for artificial intelligence, where this kind of technology is beginning to make significant differences to the way we live our lives. AI’s potential to revolutionise entire industries means this fund represents an exciting opportunity for investors to access future sources of innovation and growth across the market.”
Increasingly, people will find themselves interacting with intelligent machines both inside and outside the workplace, in sectors as diverse as healthcare, transportation and agriculture. This widespread use of AI is predicted to double the economic growth rates of many advanced countries in the next twenty years, affecting everything from the design to the delivery of products and services.
Unlike existing technology funds, the Allianz global AI fund is specifically designed to benefit from AI’s disruptive potential. By analysing this potential and integrating those companies that will drive and benefit from it directly into the portfolio, the strategy aims to harness dynamic, sustainable growth that will cut across the market.