The Polar Capital Automation and Artificial Intelligence Fund will be managed by Xuesong Zhao, alongside Polar veterans Nick Evans and Ben Rogoff, and invest across global industrial automation, AI, robotics and advanced materials.
It is hoped the fund will complement Evans and Rogoff’s existing funds, the $1.8bn Technology Trust and the $1.6bn Global Technology Fund.
The launch is the first organised under CEO Gavin Rochussen, who joined the firm in July.
He 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.”
Fund manager Zhao said the sector offered “significant opportunity”.
“The large early opportunities are in automotive and electronics industries, including iPhone production, but now the market is expanding to include retail, general manufacturing, pharmaceutical, logistics and service/care industries,” he added.