JP Morgan Asset Management has launched the JPMAM Genetic Therapies fund in partnership with UBS Global Wealth Management, to target what it sees as "disruptive technology for the pharmaceutical and biotechnology industry".
An active equity strategy, the fund uses research done by UBS Global Wealth Management's Chief Investment Office within its Longer Term Investments framework, and is being distributed by UBS initially.
Co-managers are Yazann Romahi, Berkan Sesen and Aijaz Hussein, who sit within JPMAM's Quantitative Beta Strategies team, which specialises on quantitative portfolio management and use of machine learning-based solutions. Several team members hold PhD's in artificial intelligence.
Mark Haefele, CIO at UBS GWM, said: "Genetic therapies could develop into a profoundly disruptive technology for the pharmaceutical and biotechnology industry. Positioning portfolios to capture the economic benefits of disruption, while hedging or mitigating its effects on other assets, supports our goal to help our clients protect and grow their wealth over generations."
George Gatch, CEO, JPMAM, said: "We're delighted to partner with UBS in developing this new fund. We're deploying our best Artificial Intelligence and Big Data capabilities combined with our global research expertise for this investment theme. Innovating jointly with our clients is an important priority for us."