Nippon India Mutual Fund files for artificial intelligence fund

Mutual funds have been filing thematic schemes that give investors exposure to futuristic technologies

Nippon India Mutual Fund (NIMF) has filed for an artificial intelligence fund of fund with the capital markets regulator Securities and Exchange Board of India (SEBI).

Once approved, the fund will be another option for investors in the rising number of funds focusing on futuristic technologies.

Nippon India Artificial Intelligence Fund of Fund (FoF) will invest in DWS Invest Artificial Intelligence Fund, which is run by the Germany-based asset management company DWS.

Mutual funds have been filing thematic schemes that give investors exposure to futuristic technologies.

DSP MF also filed DSP Future of Transportation Fund of Fund on January 21, 2022. The fund will invest in a combination of international ETFs to track stock performance of companies exposed to electric vehicle industry and companies involved in researching and developing futuristic technologies for transportation.

Mirae MF and Sachin Bansal-backed Navi MF have both earlier filed for electric vehicle and driving technology funds.

Nippon India has also filed for an electric vehicle fund.

Semi-conductor chips are among the other futuristic investment themes that mutual funds want to offer investors.

Tata MF has filed for a semiconductor fund of fund. The fund will hold units of various overseas-listed exchange traded funds (ETFs) that in turn will invest in semiconductor chip companies that are listed overseas.

The semiconductor chips have become increasingly important for industries like automobiles, communication, smartphones, artificial intelligence, Internet of Things, etc.

Nippon India has launched Nippon India Taiwan Equity Fund that will invest in semiconductor chip manufacturers of Taiwan. Taiwan’s semiconductor industry companies are leaders in the semiconductor industry.