Polar Capital is set to launch a technology fund focused on automation and artificial intelligence, the UK-based company has announced.

The Polar Capital Automation and Artificial Intelligence fund will be managed by Citywire A-rated duo Nick Evans and Ben Rogoff, alongside Xuesong Zhao.

The fund will aim to invest in four megatrends of industrial automation, artificial intelligence, robotics and advanced materials.

The proposed strategy will invest in companies across the globe and from across the market cap spectrum, including both dedicated Asian and European resources.

The fund does not yet have an official launch date, but will be the first strategy under the tenure of the group’s new CEO Gavin Rochussen.

The new fund will complement Polar Capital’s two existing tech products, the Polar Capital Technology Trust and the Polar Capital Global Technology fund.

Details of the fund’s registration have not yet been released, however, Citywire Selector understands that upon regulatory approval, Polar Capital will look to register the fund outside the UK.

Commenting on the launch, Evans said: 'We believe there is a significant opportunity to outperform global equities given the robust secular growth on offer.

'Initially, the portfolio will be tilted toward robotics, automation, materials and industrial related companies. The fund will gradually evolve because there is an even larger opportunity for artificial intelligence to augment and in some industries eliminate knowledge-based work.

'Over the next five to ten years AI-related developments will unlock significant value for some companies and disruption for those who fail to embrace it.'