Mumbai: IDFC AMC, one of India’s largest asset managers is introducing the IDFC Neo Equity Portfolio, a unique PMS powered by AI (Artificial Intelligence) and Big Data analysis.
The portfolio will analyse data from multiple traditional and non-traditional sources available in the public domain to identify stock opportunities. Explosive growth in data generation now allows tracking several activities like goods and shipping movements and traffic patterns to better estimate demand, footfalls at malls to track customer behaviour, social media sentiments, credit card spending patterns etc., all of which can play an increasingly important role in fund management.
Vishal Kapoor, CEO, IDFC AMC said: “IDFC Neo is a pioneering initiative in bringing AI techniques in equity fund management to Indian investors. AI-based portfolios are becoming increasingly popular worldwide as the use of data-driven analytics is playing a very substantial role in enhancing portfolio performance. It provides the best of both worlds – a fund manager’s understanding of business combined with a highly scientific, data driven investment process”
India is on the verge of a data revolution thanks to the convergence of multiple factors such as smart phone penetration, movement to a cashless economy and the implementation of GST, Aadhar and IndiaStack. This is making conditions ripe for widespread use of Artificial Intelligence to analyse vast quantities of data for meaningful predictive analysis. The IDFC Neo Equity Portfolio is the first offering by a mainstream Indian AMC which leverages these advanced technologies for the entire investment process including research and stock selection, portfolio optimization and risk management.
“Fund management using AI based technologies is about achieving the optimal combination of man and machine to significantly enhance their overall capabilities. At all stages, there is a fund manager who has final discretion on the investment. Our back-testing model results have been very encouraging,” said Vishal Kapoor, CEO, IDFC AMC.
IDFC NEO is benchmarked against S&P BSE 200 index and the minimum investment size is of Rs. 1 crore.
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