Pictet Asset Management will launch a new fund to invest in robotics and artificial intelligence technologies, the Swiss firm has announced.
The Luxembourg-domiciled Pictet-Robotics fund is designed to take advantage of an industry forecast to expand as much as four times faster than the global economy over the next decade.
Advances in IT, such as cloud computing and the emergence of powerful new microprocessors, have developed robotics use. In addition, the technology is being used in healthcare to assist surgeons in complex procedures and smart sensors are moving driver-less cars.
The fund will be managed by Karen Kharmandarian who is senior investment manager of thematic equities.
Commenting on the launch she said: ‘Robots have long been used in factories to automate dangerous, dirty or dull tasks.'
'But the pace of invention is accelerating as robots are becoming indispensable to our professional and personal lives. Companies active in robotics seem bound to enjoy strong growth from this new wave of innovation.’
The fund will be launched on October 8 2015 and is currently registered in Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, Greece, Liechtenstein, Luxembourg, Netherlands, Portugal, Spain, Sweden and the UK. It will be available for sale in other countries soon.
Pictet’s range of thematic strategies includes specialist funds in health, water, security and digital communication.