Polar Capital intends to launch a specialist fund that focuses on automation and artificial intelligence, subject to regulatory approval. 
The Polar Capital Automation and Artificial Intelligence fund will be run by Ben Rogoff, the asset management house’s director for technology, along with technology fund manager Xuesong Zhao and senior fund manager Nick Evans.
Its portfolio will concentrate on the four “powerful megatrends” of industrial automation, artificial intelligence, robotics and advanced materials. It will have a global remit and invest across the market cap spectrum.
Rogoff said: “We are launching this fund because we see a tremendous opportunity to add value across a wider range of sectors than our current mandates allow and to leverage the passion and knowledge of our team.
Performance of Ben Rogoff vs peer group composite over 10yrs
Source: FE Analytics
“We have been investing in robotics companies for many years and have growing artificial intelligence exposure – these areas form two of our eight core secular growth themes. What has excited us is the opportunity to invest beyond technology providers and include beneficiaries of these technologies across a wide range of sectors.”
Evans added that the team believes there is a “significant opportunity” for automation and artificial intelligence stocks to outperform global equities, thanks to the robust secular growth on offer.
He said the portfolio will initially be tilted towards robotics, automation, materials and industrial related companies but it likely to evolve over time to take a greater exposure to artificial intelligence, as this technology becomes increasingly mainstream.
The fund is the first launch designed to complement the team’s existing technology products – the Polar Capital Technology Trust and the Polar Capital Global Technology fund.
According to FE Analytics, the $1.6bn Polar Capital Global Technology fund is the best performer in the IA Technology & Telecommunications sector over 10 years, after making a 333.20 per cent total return.
It has also made the peer group’s second highest returns over one, three and five years.
Performance of fund vs sector over 10yrs
Source: FE Analytics
Commenting on the proposed addition to the range, Polar Capital chief executive Gavin Rochussen said: “This is an exciting fund launch from an established team with a strong track record. Technology is changing the world we live in and the pace of disruption is accelerating – knowledge of technology is becoming critical for all investors.
“Our technology team of four dedicated fund managers and three experienced analysts is one of the largest and most stable globally. Ben and Nick have built an impressive performance track record over 10 years with a growth-centric investment approach focused on understanding technology change.”