The fund launch is subject to regulatory approval.

Smith & Williamson, the independently-owned financial and professional services firm, is to launch an actively-managed fund that will give investors exposure to companies developing artificial intelligence. 

Managed from London by former Pictet managers Chris Ford and Tim Day, the global equity fund will offer investors access to a concentrated portfolio of companies that derive most or all of their revenues from artificial intelligence.

Subject to regulatory approval, the fund will launch in June. 

The fund will be broadly diversified across economic sectors and global markets, holding around half of its positions outside the US, Smith & Williamson said in a statement. The fund will not be benchmarked, it added. 

“Artificial intelligence is powering the fastest growing areas in the global economy and companies are increasingly seeking to capitalise on the opportunities this brings,” Ford said. “The influence of artificial intelligence will continue to grow and it will not be limited to one sector of the economy or to one global region. 

He continued: “The Smith & Williamson Artificial Intelligence Fund will seek to fully capture this opportunity by gaining exposure to the companies around the world which derive significant competitive advantages from their superior ability to harness artificial intelligence.”