AXA IM launches metaverse fund

AXA IM is launching a metaverse fund to invest in companies at the “convergence of the digital and physical world”. The AXA WF Metaverse Fund will form part of AXA IM’s thematic equity fund range and will invest in rising growth opportunities in the rapidly evolving metaverse economy. Pauline Llandric, lead manager of the new fund, said: “We are at the early stages of a long-term trend which is growing rapidly and believe there is a broad range of global companies and opportunities in this space. Revolutionary, cutting-edge advances in technology have changed how we live, socialise, work and do business. “The metaverse is the confluence of the virtual and physical worlds, where more technology is layered on to everyday life associated with the evolution of the internet connecting people, places and things.” The strategy will invest across four key sub-themes: gaming, socialising, working and enabling. Gaming is widely recognised as the first building block of the metaverse, while social platforms featuring live experiences are gaining popularity. AXA also wants to invest in the “enablers” of this new frontier, encompassing sectors including semiconductors, technological infrastructure, cybersecurity and payment. See also: Everything you wanted to know about the metaverse, but were afraid to ask And then there is the sub-theme of “working”. AXA IM said: “The world of industry is expected to be a large part of the metaverse market, as increasingly sophisticated capabilities enable specialists to design and simulate powerful 3D real-time simulations, or ‘digital twins’. For office workers, the metaverse also brings exciting opportunities for a more collaborative and immersive working environment.” The global strategy will be an actively managed, multi-cap equity fund investing in long-term growth opportunities presented by the metaverse in both developed and emerging markets, leveraging AXA IM’s longstanding expertise in managing strategies based on disruptive technologies. It will also be ESG-integrated and will apply ESG standards. The current metaverse universe is made up of around 250 stocks and AXA IM will select 40-60 names deemed most relevant as a result of its fundamental research and stock selection process. The fund will be managed by Llandric, alongside co-managers Tom Riley and Jeremy Gleeson who run AXA IM’s robotech and digital economy strategies. Mark Hargraves, global head of AXA IM Equity, added: “We believe AXA IM is one of the first active thematic metaverse investors and this fund launch builds on our established history in long-term thematic investment. The metaverse is an expanding and tangible investment opportunity, driven by real companies with the potential to deliver strong year-on-year growth over the next decade. “With a global customer base, we expect to see an increasing number of companies emerging from new sectors – such as healthcare and financials – as capabilities increase to bolster the promising investment opportunities in this space.” The fund will be registered and available to investors in the UK, France, Belgium, Denmark, Spain, Finland, Italy, the Netherlands, Norway, Sweden, Austria and Portugal.   To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Photo by Joan Cros/NurPhoto/Shutterstock (12838942k)