New AI-Powered Fund Ready to Launch

Stockholm (HedgeNordic) – A new vehicle powered by artificial intelligence (AI) is making its way into the Nordic hedge fund arena, joining a fast-growing group of AI-driven funds such as FIM Artificial Intelligence and Coeli Prognosis Machines. Innolab Capital Index A/S, a fund established by Danish developer of AI-powered models Innolab Technology A/S, is set to launch as soon as granted permission by the Danish Financial Supervisory Authority (FSA).

An autonomous investment robot dubbed Crys operates as the white matter of Innolab Capital Index, processing and analysing vast amounts of data on a daily basis to predict market movements. Innolab Technology, based in the Copenhagen suburb of Virum, spent nearly two years and €1.3 million developing Crys, a robot with deep-learning capabilities.

Walk-forward results for the trading strategy of Innolab Capital Index show a very profitable outcome; Crys generated a return of 150 percent starting from 2012 according to walk-forward tests. “It has been a tough two years, but now we are more than ready to go out and meet the clients. Crys has been trading live since May 2017 in real market conditions. And the result has been very satisfying, just like the results we saw in the walk forward tests,” Innolab Technology’s founder Peter Smedegaard told Danish publisher AMWatch. The hedge fund powered by Crys has returned 14.8 percent since going live at the beginning of May last year.

As soon as granted permission by the Danish FSA, Innolab Capital Index will target professional investors for a minimum investment of €100,000. The team behind the AI-powered fund aims to amass €27 million in assets under management by the end of 2018.


Picture © abracada – Shutterstock


About Author

Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index (NHX), as well as being a novice columnist covering the Nordic hedge fund industry for HedgeNordic. Prior to joining HedgeNordic, Eugeniu had served as a columnist for a U.S. journal covering insider trading activity, activist campaigns and hedge fund moves. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018.

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