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IDFC AMC, one of India’s largest asset managers, is introducing the IDFC Neo Equity Portfolio, a unique portfolio management scheme 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 in a statement: “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”
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