The rise of the robots
Pictet Asset Management has soft-closed its dedicated robotics fund after the specialist equity strategy swelled to nearly €3 billion in assets in less than two years since launch on 15 March, 2017.
The Swiss asset manager chose to close the Pictet-Robotics fund, which was launched in July 2015, after seeing strong inflows into the fund, which had €2.9 billion in assets as of March 13.
It was launched in the summer of 2015 as a means of Pictet tapping the so-called ‘robotics revolution’, which includes advances in IT, cloud computing, new microprocessors and artificial intelligence.
Management of the fund is overseen by Karen Kharmandarian, who is a senior investment manager of thematic equites, and Peter Lingen, who joined from Swedbank, where he had overseen the Swedish firm’s technology fund.