Stockholm (HedgeNordic) – Malmö-based Century Analytics has now launched CenturyOne, an artificial intelligence-driven currency fund. Founded by Niklas Höjman, Hugo Langéen and Jimmy Carlsson, Century Analytics offers a glimpse of how the asset management industry might evolve in the future as a result of the rapid adoption of AI.
“At a time when the asset management industry is slowly starting to embrace AI, our view is that CenturyOne’s launch represents a glimpse of what is around the corner,” says Hans Nelfelt, CEO at Century Analytics. CenturyOne applies machine learning algorithms to predict short-term price movements and patterns in foreign exchange markets. “All investment decisions in CenturyOne are performed by machine learning algorithms, which enables CenturyOne to identify unique investment opportunities while continuously improving its ability over time,” says Nelfelt.
CenturyOne’s investment universe consists of the G10 currency pairs, the most liquid currency pairs in the market, which feeds the fund’s AI system with extensive amounts of price data. The fund targets an annual return of 10 percent with an expected annual volatility between 8 to 12 percent.
“A lot of dedication, a diverse set of backgrounds ranging from trading, AI-research, investment banking, poker and classical music and a belief in the future of technology has enabled us to build a unique investment strategy,” says Carlsson. He is a serial entrepreneur with 15 years of experience in developing AI-applications for the military defence industry and machine learning systems for FX trading. He met Hugo Langéen and Niklas Höjman while they were working on setting up what is today Century Analytics. Höjman worked for Goldman Sachs in London before joining Langéen in developing a system for FX trading.