Allianz Global Investors Unveils New Artificial Intelligence Equity Fund

Mar 31 2017 | 4:44pm ET

Allianz Global Investors has debuted a new equity fund aimed at investing in companies engaged in artificial intelligence development and applications. 

The new fund, reportedly the first of its kind in Europe, is named the Allianz Global AI Fund, according to an article in Citywire. It follows in the footsteps of a similar strategy, now managing nearly $2 billion in assets, launched for Japanese investors last September in partnership with Japanese financial giants Sumitomo Mitsui Asset Management and Nikko. 

The investment parameters for the new fund define artificial intelligence to mean systems that perceive the external environment, process changes within that environment, and develop and execute responses. Rapid advances in areas such as big data analysis, machine learning and the internet-of-things are bringing AI concepts steadily closer to reality. 

Citywire reports that the new fund will be run by Sebastian Thomas, a portfolio manager and Allianz GI’s U.S. head of technology research. The company’s tech team currently manages more than $7 billion in assets deployed across a range of technology-focused strategies. 

The new fund will be domiciled in Luxembourg as a SICAV is passported for sale in Germany and Luxembourg starting in April. Other nations should follow in short order, subject to regulatory approvals in the U.K., the Netherlands, Belgium, France, Spain, Switzerland and Italy.

Alternatives are one of the four pillars in AllianzGI’s global investment platform, alongside equities, fixed income and multi-asset strategies. The company, part of German insurance giant Allianz, offers a broad range of alternative products, including equity long/short, merger arbitrage, derivatives, volatility, global macro, absolute return, private debt, and infrastructure-related equity and credit strategies. In total, the firm manages more than €480 billion, €19 billion of which is in liquid and illiquid alternatives.


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