The subsidiary of financial service provider, Société Générale (SG), yesterday announced the launch of a new robotics and artificial intelligence fund; Lyxor Robotics & AI UCITS ETF (ROAI). Lyxor has combined the expertise of SG's research team and index capabilities with author and AI enthusiast, Martin Ford, to create the fund.

ROAI is being listed on the London stock exchange with a TER of 0.40% as well as tracking a newly developed index.

SG's thematic research team shortlisted a universe of 210 potential stocks which the top 150 will comprise the index after being ranked by R&D expenditures, invested capital returns and 3-year sales growth.

Lyxor explains the ETF's uniqueness by its selection process which includes small to mid-cap companies and holds 50% more stocks than similar funds within the same industry. Therefore, the index is going to include companies which would most likely not appear in robotics selection.

Furthermore, Chanchal Samadder, Head of Equity Product Development says: "As the market develops, the Robotics and AI industry is likely to change significantly as more players create and adopt the technology. The unique universe captured by our ETF could really help investors stay at the forefront of this dynamic market".

Robotics and AI have been flooded with attention recently with Amundi issuing last week, Amundi Stoxx Global Artificial Intelligence UCITS ETF (GOAI), another AI based ETF. Additionally, robotic ETFs have attracted €1bn in new investments this year alone which brings its total assets to €3.7bn.