Fluid AI to launch deep learning-based PMS equity fund

Rajesh Kurup

To utilise AI to access 50 years of international and Indian stock market data

Mumbai, February 12

Indian start-up Fluid AI is readying to launch an artificial intelligence-based portfolio management services (PMS) equity fund, Fluid AI Fund, that will utilise deep learning to access 50 years of international and Indian stock market data. The company, which has sought SEBI approvals, intends to launch the fund by June.

“I think this will be the first AI-powered equity fund in the world, while others are handled by real people or machine-based algorithms. Using AI and deep learning, the fund will help understand stocks based on their financial returns, asset holdings, performance data and thousands of other data variables,” said Abhinav Aggarwal, co-founder and CEO, Fluid AI.

“It’s going to be a combination of understanding what was successful previously and also to learn from trades made by some of the greatest investors of our time such as Warren Buffett,” he added.

Corpus

Fluid AI has been testing algorithms over the past one year and is now ready for a commercial launch. The minimum buy-ins will be to ₹25 lakh a person, while the fund’s corpus is yet to be finalised.

The start-up is a 50-person company headquartered in Mumbai, and focusses on the changing paradigm of human and digital interaction. The company was founded by Abhinav and his brother Raghav Aggarwal.

Last year, Fluid AI worked with Buffett and Forbes to launch an AI-based magazine cover, which let users talk to the Chairman and CEO of Berkshire Hathaway, on investments, Bitcoin, Donald Trump and a host of other things.

Published on February 12, 2018
TOPICS
mutual funds
entrepreneurship

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