M&G, the savings and investment manager, has invested in the latest seed funding round by Edinburgh-based Level E Research which uses artificial intelligence (AI) to build index-beating strategies.
Together they aim to bring AI and machine learning to the forefront of investment management through AI strategies that seek out opportunities using powerful computers to crunch large amounts of data.
Each strategy will be supported by an initial investment of £100 million. The first, AI Smart US, has launched with the objective of outperforming the US S&P 500 Index.
Dr Sonia Schulenburg, founder and CEO of Level E Research, said: “Today, we are excited to announce a transformational milestone for Level E Research as we partner with M&G.
“With over two decades of research and development behind us we now begin the next stage of our journey as we grow and scale alongside the largest and most established investment managers in the worl.d”
“Level E Research is now perfectly placed to provide AI solutions that empower the investment industry in the UK and beyond”.
David Montgomery, managing director at M&G Wealth said: “We want to offer a wide range of investment choice at great value to financial advisers and clients.
“Unquestionably, AI solutions are becoming an increasing factor in construction of bespoke investment options and, as with any digitisation, helps to lower costs.”