Horizons launches Canada's first ETF driven by artificial intelligence

November 01, 2017 - 9:37 AM

TORONTO - Horizons ETFs Management Inc. says it has launched the first exchange-traded fund in Canada to use artificial intelligence for all security selection decisions.

The Horizons Active A.I. Global Equity ETF began trading today on the Toronto Stock Exchange under the ticker symbol MIND.

The ETF, sub-advised by Mirae Asset Global Investments, uses an investment strategy run by an AI system that analyzes data and extracts patterns.

Horizons ETFs president Steve Hawkins says MIND is expected to process market data and allocate assets more efficiently than any human manager.

MIND monitors more than 50 investment metrics from which it analyzes patterns and makes investment decisions.

South Korean-based Qraft Technologies Inc., a manufacturer of AI investment systems, created the technology powering MIND.

News from © The Canadian Press, 2017

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