Polar launches new megatrends fund
Investment company Polar Capital (POLR:AIM) has launched a new technology megatrends fund. Polar Capital Automation and Artificial Intelligence Fund will focus on four powerful secular themes: industrial automation, artificial intelligence (AI), robotics and materials science.
Fund manager Ben Rogoff believes the next three to five years will spark a period of massive disruption capable of ‘unlocking significant value for investors’.‘Intelligent machines will require a rewriting of fundamental design and manufacturing principles,’ he says. ‘We believe this could prove as significant as the introduction of just-in-time inventory management and the reinvention of logistics in the 1980s.’
The fund plans to invest in between 50 and 80 companies from around the world and across the market size spectrum. Its target is to deliver superior returns for investors above the MSCI ACWI benchmark index which has risen by nearly 50% over the past five years.
Retail investors will incur a 1.3% annual management charge.
Polar Capital Automation and Artificial Intelligence Fund will have a more specific investment remit than the asset manager’s existing technology vehicles.
These include Polar Capital Technology Investment Trust (PCT) and Polar Capital Global Technology Fund (IE00B42W4J83), which have £1.8bn and $1.6bn of assets under management respectively.