Fund managers climb on AI bandwagon to tap new investors embracing equities

Fund houses are preparing for a future where passive investing, which has decimated fees for US managers, takes hold in the country

India’s mid-sized money managers are counting on rule-based mathematical models to tap a new breed of investors embracing equities.
 
Tata Asset Management is the latest to start a quant fund. The firm is seeking to expand in a market where industry assets have more than doubled to $378 billion in the past five years. The fund will be the first in India to use artificial intelligence and machine learning to pick stocks, according to Tata Asset.
 
“We want to really try and get bigger,” Prathit Bhobe, the firm’s CEO and MD, said earlier this month. “In order to