The stock market investing artificial intelligence fund was launched in June in Luxembourg as a SICAV fund and currently has approximately $215m in assets under management.
All investments in the fund are made using a sophisticated proprietary artificial intelligence system that selects long as well as short positions in the US equity market. The system ranks these potential opportunities according to their risk-reward profiles.
Simone Vroegop, vice president of business development for State Street Global Services, said: “In a State Street survey of European asset managers conducted by the Economist Intelligence Unit earlier this year, the findings highlighted the strategies asset managers are seeking in order to navigate the new financial environment, and their quest for fresh ideas is driving a significant shift in approach.”
