An expansion of a strategy originally launched in Japan late last year in partnership with Sumitomo Mitsui Asset Management and Nikko, the fund will be managed by Sebastian Thomas, portfolio manager and director, US head of technology research.
The new Luxemburg Sicav, available for UK investors from end of April, will be the first time the $1.8bn strategy will be open to European investors.
According to research from Accenture and Frontier Economics, the AI market – those technologies which are able to perceive the outside world, process that information and act by way of response – is expected to grow to $36.8bn by 2025.
Allianz cites research that the widespread use of AI is predicted to double the economic growth rates of many advanced countries in the next 20 years, affecting everything from the design to the delivery of products and services.
