TCW Group is to launch a global equity fund focused on investing in artificial intelligence (AI).
The Los Angeles-based asset manager already offers the strategy to investors in Japan but will launch a 40 Act version of the offering in August, according a filing with the Securities and Exchange Commission.
The TCW Global Artificial Intelligence Equity fund will mainly invest in companies that the managers believe are currently benefiting or will benefit from advances in AI.
It will primarily target technology, consumer discretionary, industrial and healthcare companies which have a market cap of $300 million or more.
TCW’s Jeffrey Lin will be the lead manager of the fund and Thomas Lee will be the co-portfolio manager. Fees have not yet been disclosed.
A TCW spokesman confirmed the content of the filing but declined to comment further.
In March, Allianz Global Investors launched the Global Artificial Intelligence fund in Europe for retail and institutional investors. Like TCW, Allianz debuted its AI strategy in Japan.