AXA Investment Managers (AXA IM) has launched a metaverse fund to invest in companies exploring virtual reality.
The fund will invest in 40-60 firms across the metaverse ecosystem and will be led by Pauline Llandric, a portfolio manager on several technology related funds. Tom Riley and Jeremy Gleeson who run AXA IM’s Robotech and Digital Economy strategies, will also co manage the fund.
The global strategy will be an actively managed, multi-cap equity fund investing in long-term growth opportunities presented by the Metaverse.
“We are at the early stages of a long-term trend which is growing rapidly and believe there is a broad range of global companies and opportunities in this space,” said Pauline Llandric, lead manager of the AXA WF Metaverse fund.
“Revolutionary, cutting edge advances in technology have changed how we live, socialise, work and do business. The Metaverse is the confluence of the virtual and physical worlds, where more technology is layered on to everyday life associated with the evolution of the internet connecting people, places and things,” Llandric continued.
Metaverses are virtual reality worlds where users can interact with one another as avatars, play games and access services.
Investment giant JP Morgan has identified the metaverse as an annual market opportunity worth $1 trillion. The AXA IM fund will invest in firms which focus on integrating the metaverse with gaming, socialising, working and technology.
Mark Hargraves, AXA IM’s equity lead said the Metaverse has “the potential to deliver strong year-on-year growth over the next decade.” The fund will be available to investors in the UK and across Europe.