When we talk about investment industry and investment funds, we can’t ignore hedge funds who are big players of the market with trillions of dollars in their capital. Hedge funds are different from mutual funds because they almost invest in all types of assets and hence involve more risks. To minimize those risks and be able to gain profits in both rising and falling markets, hedge funds take services of experienced management firms. These fund management companies and fund managers have huge fees including management fees (also called annual percentage which is mostly 2% of the fund’s net asset value) and also performance fees which is mostly 20% of fund’s annual profit. All these fees are simply huge and there was no other option that could help reducing these fees or save such expenses of hedge funds but there is one now and it’s Pit.AI.
Meet Pit.AI, a team of AI researchers from Oxford university with first-class experience in financial markets and our latest portfolio startup from YCombinator’s Winter 2017 batch who believe that Artificial Intelligence can replace human investment managers and help hedge funds save their management fees. Pit.AI is doing this by building AI agents that can develop deeper insight from massive financial data and learn how to invest by themselves by using proprietary machine learning technology.
Doesn’t it sound exciting? If this also interests you, check it out by yourself.