Evolve Plans to Launch Artificial Intelligence Index Fund with Boosted.ai
TORONTO, Dec. 11, 2023 /CNW/ - Evolve Funds Group Inc. ("Evolve") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for plans to bring Canada's first Artificial Intelligence Index Fund that uses generative Artificial Intelligence ("AI") to determine the portfolio for the Index. The Evolve Artificial Intelligence Index Fund ("ARTI" or the "Fund") is powered by Gradient Boosted Investments Inc. ("Boosted.ai") and is designed to provide investors with exposure to AI companies deemed to benefit from the increased global adoption of AI.
"As a leader in disruptive technology ETFs, Evolve has been exploring a pure play AI ETF for the last several years," said Raj Lala, President and CEO at Evolve ETFs. "It wasn't until partnering with Boosted.ai where we found an index, we felt could accurately identify a portfolio of leading AI companies. Boosted.ai's proprietary model uses generative AI to identify the best AI companies fundamentally changing our world. ARTI will be a great complement to our current suite of innovative disruptive technology ETFs and provide Canadian investors true pure play exposure to this exciting theme."
ARTI seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Boosted.ai Artificial Intelligence Index (the "Index"), or any successor thereto.
The Index seeks to provide investors with exposure to global securities that will benefit from increased adoption of AI. The Index consists of publicly traded equity securities of issuers from North America and other developed markets selected by Boosted.ai's proprietary large language model that determines an issuer's applicability to the theme of generative AI based on its likelihood to benefit from increased global adoption of AI.
"Working with Evolve to bring this innovative ETF powered by generative AI has been a thrill, as we are pushing the capabilities of large language models (LLM) to new heights together," said Joshua Pantony, Co-Founder and CEO at Boosted.ai. "Evolve is at the forefront of Canadian innovation with funds focused on cyber security, cloud computing and even the Metaverse, and Boosted.ai is excited to partner with them to help bring ARTI to Canadian customers that want to take advantage of the transformative effect AI will have on the world. Boosted.ai shares the innovative spirit of Evolve and we are proud to have used our LLM technology and cutting-edge algorithms to curate an index of stocks that will benefit from advancements in AI, also powered entirely by generative AI."
The following chart sets out the TSX ticker symbols for the Units of the Fund:
TSX Ticker Symbol |
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CAD Hedged Units |
CAD Unhedged Units |
USD Unhedged Units |
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Evolve Artificial Intelligence Index Fund |
ARTI |
ARTI.B |
ARTI.U |
With over $7.7 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF in September 2017. Evolve specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) index-based income strategies; (ii) long term investment themes; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
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Boosted.ai is artificial intelligence for better investing. Boosted.ai makes Boosted Insights – an artificial intelligence platform to augment idea generation for stock pickers. We believe that combining an investment manager's intuition and experience with artificial intelligence's enhanced learning and processing power equals better decision making. To learn more, please visit www.boosted.ai.
A preliminary prospectus containing important information relating to securities of the ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
SOURCE Evolve ETFs
Evolve ETFs, [email protected], t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT: Keith Crone, [email protected], 416.966.8716
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