AXA Investment Managers (AXA IM) has announced the renaming of its AXA WF Metaverse fund to AXA WF AI & Metaverse, effective July 2, 2024. According to the company, this decision reflects the expansion of the fund’s investment universe to include the broader realm of artificial intelligence (AI) and the growth opportunities it offers as the AI revolution extends beyond the boundaries of the metaverse.
Commenting on the fund’s name change, Tom Riley, Head of Global Thematic Strategies at AXA IM Equity, explained that the management company “firmly” believes that the synergies between AI and the metaverse offer unprecedented opportunities, while also noting that the AI revolution extends beyond the metaverse. “While the existing companies in our portfolio have been at the forefront of AI innovations, by expanding our investment universe to include the broader AI environment, we believe we could capture even more exciting opportunities. By selecting one of the most significant themes of our generation, the fund can appeal to investors seeking exposure to this fast-moving sector and its growing set of credible long-term growth opportunities. The rise of AI and its possibilities have increasingly made it clear that its evolution is not just a trend or a parallel development, but a powerful accelerator of the metaverse,” Riley commented.
The management company highlights its established expertise in technology and disruptive technology, managing around 6 billion dollars in assets within these themes. The Metaverse strategy was launched in 2022 as part of AXA IM’s commitment to identifying and capturing the growth potential of disruptive technologies for its clients. The AXA WF AI & Metaverse fund will continue to be co-managed by Pauline Llandric, a technology portfolio manager, and Brad Reynolds, a technology portfolio manager, both based in London.
