FIM launches an AI investment fund with automatic asset allocation made by a self-learning algorithm.

FIM, an asset management company originally founded in Finland and operating from Stockholm, announced that it will launch an investment fund based on a self-learning algorithm that makes automatic stock allocation, a first of its kind in Scandinavia.

The fund, called FIM Artificial Intelligence fund, targets returns of 3 percentage points above the MSCI World Index, seeking to tease out patterns even an experienced fund manager may not detect. The algorithm picks 50 stocks from a pre-screened universe of 4,000 liquid, developed-market equities, each with a market capitalization of 1 billion euros or more. Its database contains fundamental data on 700 variables going back to 1986. The allocation takes place every six months and the actual trading is done by a human

FIM was founded in 1987 in Helsinki and operates from Stockholm since 2005. The company, led by CEO Johan Wahlman and CIO Eelis Hein, specializes in emerging markets, managing assets with a total value of about 25 billion SEK ($3bn).