BlackRock readies suite of ETFs designed by robots
New York
BLACKROCK Inc's exchange-traded fund (ETF) business is getting a machine-made makeover.
After building a US$1.3 trillion ETF empire on the back of passive funds, the world's largest asset manager is readying a suite of actively managed equity ETFs designed by robots. At least seven funds branded "iShares Evolved" will invest in sectors such as innovative healthcare, media and entertainment, and technology - slices of the market that have been classified using artificial intelligence, regulatory filings with the US Securities and Exchange Commission (SEC) show.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
AI risks to financial stability are already a central bank worry
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares
Over S$646,000 spent to store, maintain, safeguard assets in money laundering case
Philippines eyes US$2 billion in its first global bond this year
UniCredit jumps past 60 billion euro market cap to join elite club
New Thai finance minister downplays row with central bank