Amundi has become the latest asset manager to tap into investors’ growing interest in artificial intelligence (AI) with the launch of a thematic exchange traded fund (ETF).
The Amundi Stoxx Global Artificial Intelligence Ucits ETF offers equal-weighted exposure to a global basket of stocks benefiting from the rise of AI, tracking the Stoxx AI Global Artificial Intelligence ADTV5 index.
The index ranks stocks by what percentage of the patents they have been granted over the last three years are AI-related and how this compares to the average company.
The ETF will levy an annual charge of 0.35%.
Amundi ETF managing director Fannie Wurtz said: ‘We’re particularly excited to be able to offer investors this innovative ETF which provides a cost-efficient way to gain exposure to artificial intelligence, a key driver of future growth.
'Product innovation is one of the core principles of Amundi ETF and this new listing demonstrates our commitment to providing our clients with new solutions for their long-term investment objectives.’
The ETF follows a string of recent AI-themed fund launches with Aberdeen launching its Global Intelligence Equity Sicav and Japanese firm Asset Management One bringing over its AI Deep Learning Global Equity strategy in the last month alone.