AXA Funding Managers (AXA IM) has introduced the renaming of its AXA WF Metaverse fund to AXA WF AI & Metaverse, efficient July 2, 2024. In accordance to the corporate, this resolution displays the growth of the fund’s funding universe to embody the broader realm of synthetic intelligence (AI) and the expansion alternatives it affords because the AI revolution extends past the boundaries of the metaverse.
Commenting on the fund’s identify change, Tom Riley, Head of World Thematic Methods at AXA IM Fairness, defined that the administration firm “firmly” believes that the synergies between AI and the metaverse supply unprecedented alternatives, whereas additionally noting that the AI revolution extends past the metaverse. “Whereas the present firms in our portfolio have been on the forefront of AI improvements, by increasing our funding universe to embody the broader AI atmosphere, we consider we may seize much more thrilling alternatives. By choosing one of the vital important themes of our era, the fund can attraction to traders looking for publicity to this fast-moving sector and its rising set of credible long-term progress alternatives. The rise of AI and its potentialities have more and more made it clear that its evolution is not only a pattern or a parallel growth, however a highly effective accelerator of the metaverse,” Riley commented.
The administration firm highlights its established experience in know-how and disruptive know-how, managing round 6 billion {dollars} in property inside these themes. The Metaverse technique was launched in 2022 as a part of AXA IM’s dedication to figuring out and capturing the expansion potential of disruptive applied sciences for its purchasers. The AXA WF AI & Metaverse fund will proceed to be co-managed by Pauline Llandric, a know-how portfolio supervisor, and Brad Reynolds, a know-how portfolio supervisor, each based mostly in London.