BlackRock, the global leader in asset management, announced on December 10 the launch of three new AI-focused funds aimed at European investors. This suite includes BGF AI Innovation, the iShares AI Infrastructure UCITS ETF and the iShares AI Adopters & Applications UCITS ETF.
Founded in 1988, BlackRock is today one of the leading global providers of investment, advisory and risk management solutions, notably thanks to its flagship technology platform: Aladdin. With approximately $11.5 trillion in assets under management, it is the world’s largest fund manager, covering a wide range of asset classes, including stocks, bonds and alternatives.
According to BlackRock, investments in AI-related infrastructure, spanning hardware, cloud computing and semiconductors, are expected to exceed $270 billion in 2024 and cross the $1 trillion mark in the longer term. A trend that also extends to AI-driven applications, whether automated solutions for businesses or consumer innovations like virtual assistants, providing significant strategic opportunities.
The European suite focused on AI: two innovative ETFs and a conviction fund
BlackRock’s new suite offers a layered approach to seizing the opportunities offered by the AI ecosystem:
- iShares AI Infrastructure ETF (AINF) : this fund targets infrastructures essential to the development of AI, such as semiconductors, cloud computing and big data;
- iShares AI Adoption ETF (AIAA) : Focused on sectors adopting AI, including healthcare, finance and mobility, this fund focuses on the application layers of AI.
- BGF AI Innovation Fund : A mutual fund, actively managed by Tony Kim and Reid Menge. The portfolio focuses on 20 to 40 stocks, covering critical infrastructure (energy, accelerated computing) and applications (data software).
Tony Kim, head of the technology team at BlackRock, highlights:
“We are at the dawn of an intelligence revolution. These funds enable investors to capture unique opportunities across the AI and advanced technology ecosystem.”
A commitment to innovation and sustainability
In addition to focusing on technological innovation, these funds also integrate environmental, social and governance (ESG) criteria into their investment strategy. BlackRock is committed to promoting sustainable practices while maximizing returns for its investors.
With these new funds, BlackRock intends to respond to growing investor demand for AI-driven investment solutions.
Manuela Sperandeo, head of the iShares Europe and Middle East range, concludes:
“AI is transforming investing by providing unprecedented opportunities for growth and innovation. We want to provide investors with the means to take advantage of these opportunities.”
