HONG KONG, December 19, 2023 /PRNewswire/ — As of December 13thThe E Fund CSI Artificial Intelligence Thematic ETF, the largest in its category, has reached a significant milestone with assets under management approaching 617 million US dollars. Managed by E Fund Management (“E Fund” or “the Company”), the largest fund management company with offices on the continent. China And Hong Kongthis ETF tracks the CSI Artificial Intelligence index, composed of 50 leading companies in the artificial intelligence value chain in China.
The recent hype around AI has created a sense of excitement among investors and the E Fund CSI Artificial Intelligence Thematic ETF has seen a remarkable weekly inflow of 14 million US dollars in December.
Globally, the growing momentum of AI is mainly driven by rapid advancements in large language models and expanding hardware opportunities. On November 6thOpenAI released the new GPT-4 Turbo model which is more capable, supporting a 128 KB pop-up window and has knowledge of world events up to April 2023. To help developers scale their applications, GPT-4 Turbo has demonstrated improvement in terms of lower prices and higher rate limits.
At the same time, a major advancement in hardware devices was seen with the launch of the AI Pin, a digital personal assistant housed in a tiny piece of hardware that can attach to the user’s clothing. Powered by large language AI models from OpenAI and a Qualcomm Snapdragon processor, the gadget can serve as an alternative to smartphones, for sending text, taking photos and interacting with a ChatGPT-like virtual assistant.
In China, the development trajectory of AI, especially regarding self-developed large language models and computing power, is accelerating. The full potential of the national industry has not yet been exploited. As favorable policy incentives take shape, fostering an enabling environment for AI-driven innovation, it is believed that investors can unlock opportunities through AI-themed ETFs to gain exposure to companies at the vanguard of the artificial intelligence revolution.
About Fund E
Established in 2001, E Fund Management Co., Ltd. (“E Fund”) is one of the leading comprehensive fund managers in China with over 3 trillion RMB (420 billion dollars) under management.* It offers investment solutions to onshore and offshore clients, helping them achieve long-term sustainable investment performance. E Fund’s clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporations and banks . Long-term oriented, it has focused on investment management activities since its inception and believes in the power of in-depth research and dedicated time for investing. He is a pioneer and leading practitioner of responsible investments in China and is widely recognized as one of the most trusted and notable Chinese asset managers.
Data from September 30, 2023. The exchange rate comes from the PBoC at the end of September 2023.
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Fund Management SOURCE E
