Amundi launches AI ETF
Amundi has launched the Amundi Stoxx Global Artificial Intelligence UCITS ETF, created, it says, to help investors tap into the opportunities offered by Artificial Intelligence (AI), one of the megatrends driving future economic growth.
The firm writes that Artificial Intelligence is a combination of different technologies ranging from machine learning to natural language processing, and computer vision, and is expected to have an impact on all sectors and geographies in the coming years. Amundi says that this innovative ETF offers the opportunity to invest today in companies strongly exposed to AI’s potential growth opportunities.
Amundi Stoxx Global Artificial Intelligence UCITS ETF, offered with ongoing charges of 0.35 per cent, tracks the Stoxx AI Global Artificial intelligence ADTV5 index, which employs an innovative methodology. This systematic selection process analyses stocks according to two metrics:
- AI exposure: measured as the proportion of AI-related patents granted to the company over three years compared to the total number of patents granted to that company over the same period;
- AI contribution: measured as the number of patents granted to the company over three years relative to all AI patents given to all companies over the same period.
The Stoxx AI Global Artificial intelligence ADTV5 index is equally weighted, offering diversification across countries, sectors and market capitalisation.
Fannie Wurtz, Managing Director of Amundi ETF, Indexing & Smart Beta, says: “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”.