- Evolve Funds Group has launched Canada’s first artificial intelligence (AI) fund on the Toronto Stock Exchange
- Called the Evolve Artificial Intelligence Fund, it is designed to provide investors with exposure to AI companies expected to benefit from the global adoption of AI
- The fund has 60 holdings in its portfolio and uses a database generated by Gradient Boosted Investments
- Shares of ARTI were set to begin trading at C$10
Canada’s first artificial intelligence (AI) fund was set to officially begin trading Monday on the Toronto Stock Exchange.
Launched by Evolve Funds Group, the Evolve Artificial Intelligence Fund (TSX:ARTI) is an ETF designed to provide investors with exposure to AI companies expected to benefit from the global adoption of AI.
Within ARTI’s portfolio are 60 holdings weighted across information technology, communication services, consumer discretionary, industrials, financials and healthcare.
The fund’s top five holdings include:
- Apple (NASDAQ:APPL)
- Alphabet (NASDAQ:GOOGL)
- Meta Platform (NASDAQ:META)
- Microsoft (NASDAQ:MSFT)
- Amazon (NASDAQ:AMZN)
The fund also uses a database generated by Gradient Boosted Investments’ (Boosted.ai) proprietary language model technology that determines an issuer’s applicability to the theme of AI based on how likely it is to benefit from the increased adoption of AI.
Boosted.ai is an AI company that has developed a technology enabling fundamental and quantitative investors to save time and improve portfolio metrics. The platform has helped a wide range of investment managers implement machine learning into their portfolios.
The fund is actively managed by Evolve Funds.
Evolve Funds launched its first exchange-traded fund back in 2017 and has more than C$7.2 billion in assets under management.
Shares of the Evolve Artificial Intelligence Fund (TSX:ARTI) were set to begin trading at C$10.
Join the discussion: Find out what everybody’s saying about this ETF on the Evolve Artificial Intelligence Fund Bullboard, and check out other hot topics about stocks at Stockhouse’s stock forums and message boards.
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