BlackRock has rolled out a suite of AI-focused thematic funds for European investors.
The range includes the BGF AI Innovation fund, iShares AI Infrastructure UCITS ETF, and the iShares AI Adopters & Applications UCITS ETF.
The BGF AI Innovation fund, managed by Tony Kim and Reid Menge, is BlackRock’s flagship AI thematic equity strategy. The fund is a best ideas portfolio made up of 20-40 stocks.
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“We are at the dawn of an intelligence revolution,” said Kim, who heads the fundamental equities technology group at BlackRock.
“These funds can help investors seize outsized and overlooked investment opportunities across the full stack of AI and advanced technologies. The unprecedented rate of change in this new AI revolution poses unique opportunities for investors to seize.”
The AI adopters ETF specifically targets companies in data-intensive industries such as healthcare, finance, and mobility, which can use AI to improve their operations and services.
iShares AI Infrastructure UCITS ETF primarily focuses on the foundational layers of AI technology, such as investing in companies involved in semiconductors, cloud computing, and big data.
The AI Infrastructure and AI Adopters ETFs both charge a 0.35% total expense ratio.